If you’re looking to secure a comfortable retirement, one of the best ways to do so is by maximizing your pension contributions. This will not only help you build a strong financial base for your future, but it also provides tax benefits that can increase your income. So how can you make the most out of your pension contributions? Let’s dive in.

First, start by taking advantage of your employer’s pension plan. Many employers offer a matching contribution, meaning that for every dollar you put in, they will also contribute a certain amount. This is essentially free money, so be sure to contribute at least enough to meet your employer’s match. Additionally, you can contribute up to a certain percentage of your salary to your pension, so consider increasing your contribution percentage if you have room in your budget.

Another way to maximize your pension contributions is by taking advantage of catch-up contributions. If you’re over the age of 50, you are allowed to contribute an extra amount to your pension each year. This is a great way to make up for any years that you may have not been able to save as much or to boost your retirement savings even further. Just be sure to check with your specific pension plan to see what the limits are.

Lastly, consider diversifying your retirement savings by opening a Roth IRA or contributing to a traditional Individual Retirement Account