Part 4/7:
When discussing the reality of financial changes, Lisa acknowledges that not everyone can afford even a 1% increase in contributions, especially in the face of rising living costs. For those facing financial strains, she suggests beginning with something as simple as a half-percent increase. The imperative is to start somewhere, as any contribution can make a difference.
Many families grapple with additional expenses, like nursery fees, which can be mitigated by pension contributions that help lower taxable income. Although it may seem counterintuitive, contributing to a pension can help families retain benefits that would otherwise be lost due to high earnings.