20s

When you’re in your 20s, you might have competing priorities for your cash and other saving goals might feel more urgent.

Things to think about

• Saving early pays off
  However much (or little) you can afford to pay into your pension fund, the earlier you start, the longer your money has to grow.
• Paying something is better than nothing
  If you can aim to pay at least 7%, you’ll get the maximum 9% contribution from Cummins. But it’s okay to balance this with other goals, like saving for a deposit on a house or paying off debt, by paying a smaller amount into your pension. You can change how much you save at any time by logging in to My Pension Tracker.

• It’s okay not to have it all figured out
  You can start saving into your pension without knowing what retirement will look like. In your early 20s, building the habit matters more than having a plan. Your annual benefit statement will help you keep track along the way.