With the cost of living crisis making an impact on almost everybody, you may be looking for quick and easy ways to cut back which won’t impact you as much. A seemingly simple thing to do which you may consider could be to cut your pension contributions. This is advised against, however, as it could seriously affect you in the long run.
The latest Which consumer insight tracker found 59% of people made an adjustment to cover essential spending last month, and 28% were forced to dip into their savings. If you're auto-enrolled into a pension scheme run by your employer, it's likely that at least 5% of your salary is going into your pension.
