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Employers often offer matching contributions for pension plans, presenting a valuable opportunity for employees. Yet, research shows that many employees do not exploit this benefit. By understanding their company's pension scheme details, employees can seize these opportunities for free money, effectively doubling their contributions with minimal effort.
Despite the traditional view of auto-enrollment as a sufficient measure for retirement planning, many continue living under the misconception that what’s mandatory is adequate. Engaging with one’s pension plan can reveal numerous avenues for optimization, including the choice of funds, the cost of investments, and potential returns.