Building a comfortable retirement isn’t about waiting until later—it’s about starting at the right time. Pension schemes are designed to give you steady income in your golden years, but when you start investing makes all the difference. The earlier you begin, the more you can benefit from compounding and flexibility. Pairing pension planning with life insurance also ensures your family’s future remains protected while you focus on your long-term goals. Curious when the best time to start is? Let’s explore.
When should you start investing in pension schemes?
The ideal time to start investing in pension schemes is as early as possible. Early investments take advantage of compounding, allowing your funds to grow exponentially over time. Experts recommend starting in your 20s or early 30s, giving you a longer horizon to accumulate wealth.
20s and 30s:
This is the prime period to invest, as smaller, consistent contributions can result in substantial returns due to compounding.
40s:
Starting at this stage may require higher contributions to achieve similar goals, but it is still manageable with disciplined saving.
50s and beyond:
Although later than ideal, investing in a pension scheme at this age is better than not investing at all. Returns might be lower, but they can still support retirement planning.
In addition to knowing when to start investing, it is equally important to plan And if you’re wondering, “What about life insurance?”—this is the perfect stage to consider it. There are many life insurance with savings plans like ULIPs, endowment plans among others that offer dual benefit – investment and insurance – all in one solution.
Explore savings plans and choose the one that suits your life goals. Get quote!
