Back in 2011 Emily Robinson thought it might be a good idea to give up booze in January as she had signed up for her first half marathon. Emily was amazed that she lost weight, slept better and had more energy to run. The next year Emily joined the charity Alcohol Concern and started work on what was to become Dry January.
Since its inception, Dry January has become something of a phenomenon with 5 million people taking part in the UK last year. Not only can giving up alcohol for a month help your health, it can do wonders for your wallet.
This January why not put your extra beer money into your pension? You can voluntarily increase your contributions to your pension, meaning you’ll save more in the same time period. Some employers even offer contribution matching. This means up to a point, your employer will also match any increases you pay into your workplace pension.
If you’ve been automatically enrolled into a pension, both your employer contributions and your own contributions are set to increase in April 2018. Why not get ahead of the curve and voluntarily increase your contributions? Pension contributions benefit from tax relief. Unlike salary, which is normally paid after tax, you won’t normally be taxed on money you put into your pension.
For more information about your pension call TPAS on:
0300 123 1047 or start a live webchat with us.