Paying more to improve benefits

Even if you are a member of a pension scheme or have taken out a personal retirement savings account (PRSA) or a personal pension, you should continue to review your pension position on a regular basis. Most people will have scope to pay more into their pension to improve their benefits.

There are many reasons why you may need to consider paying more into your pension:

• you have less than the maximum pension in your current scheme,
• you have started saving at a later age,
• your projected benefits are not likely to be sufficient to meet your needs, or
• you want to provide additional benefits.