I HAD TO PAY LESS TO MY PENSION

PLUMBER Nik Smith was forced to cut his pension contributions when the first national lockdown came into force in March last year.

The 38-year-old father of two, pictured, says: ‘I didn’t work for two months and I had no money coming in. I wasn’t eligible for any help or grants. I did manage to keep paying into my pension, but I had to drop the amount I was putting in.’

Thankfully, business is now returning and Nik, from Basingstoke in Hampshire, has bumped up his payments into his personal pension with Aviva once again. He pays in £312 a month, with his business contributing a further £250. During lockdown, the total monthly contribution dropped to just £50.

‘Work has been really busy since the first lockdown,’ says Nik. His pension pot is worth £80,000 and even though his business is a success he still has concerns about his retirement. He says: ‘I worry I am not saving enough, but equally I need to strike a balance between saving and being able to afford to live.’