How will it benefit me?
Pensions are one of the most efficient ways to save for retirement, particularly for higher and additional rate taxpayers. All income and growth is free of tax while the funds are invested. On retirement, 25% of the fund can be paid out to you as a tax-free lump sum. The remainder is taxed at your personal rate, but can be withdrawn flexibly.
It makes sense to pay in as much as possible, providing this is affordable, and that it doesn’t breach the various allowances.
Pensions are also considered outside your estate for Inheritance Tax, so can form part of a legacy plan.