How to boost your pension by £33,000 by paying it an annual Christmas bonus

Contributing an extra £400 into your pension pot this festive period will give the gift of compound interest and should make your retirement feel more jolly and bright

Piggy bank wearing Santa hat and wrapped in Christmas lights
(Image credit: Getty Images)

Many of us will spend hundreds - or even of thousands - of pounds this Christmas, from festive food and decorations to gifts for loved ones.

But did you know that also paying some attention to your pension pot and giving it a Christmas bonus could result in a very jolly boost to your retirement savings?

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How a £400 annual Christmas bonus can turbo-charge your pension
AgeYears to retirement at 66Amount saved every ChristmasProjected amount at retirementRow 0 - Cell 4
2541£400£32,970Row 1 - Cell 4
3531£400£23,021Row 2 - Cell 4
4521£400£14,463Row 3 - Cell 4
5511£400£7,056Row 4 - Cell 4
Ruth Emery
Contributing editor

Ruth is an award-winning financial journalist with more than 15 years' experience of working on national newspapers, websites and specialist magazines.

She is passionate about helping people feel more confident about their finances. She was previously editor of Times Money Mentor, and prior to that was deputy Money editor at The Sunday Times. 

A multi-award winning journalist, Ruth started her career on a pensions magazine at the FT Group, and has also worked at Money Observer and Money Advice Service. 

Outside of work, she is a mum to two young children, while also serving as a magistrate and an NHS volunteer.