Your 2026 pension checklist

Over 57% of UK adults don’t think they’re saving enough for retirement†. For many people, pensions sit firmly in the back of your mind and they’re easy to ignore when retirement feels a long way off.  

The start of 2026 is a great time to pause and check in. You don’t need to become a pension expert or make big changes overnight. Here’s a few simple steps to help you feel more confident and in control of what your future will look like.  

1. Know what you already have 

Confidence starts with clarity. Many people aren’t sure what pension they’re building, how it works, or what they might have when they retire. That uncertainty can make it easy to avoid altogether. 

Understanding what you already have is the foundation of good pension planning - and it’s often easier than you expect.  

 

Here’s how to get a clear picture: 

• Find out which workplace pension you’re in 

If you work in local government, you’re likely paying into the Local Government Pension Scheme (LGPS). NHS staff may be in a different scheme, and some people also have auto-enrolment pensions. Your HR or Payroll team can usually confirm this quickly. 

• Check for pensions from previous jobs 

You might have one or more pension pots from earlier roles. Knowing what you have can help with future planning. Money Helper offers a free pension tracing service if you’re unsure where to start. 

• Log in to see your pension details online 

Most pension providers offer online access where you can view your information. For example, to view how your SCAVC is doing, simply log in to your SCAVC provider. This will be Prudential or Standard Life for the majority of you holding a SCAVC.

you can log into the My Money Matters platform to see details of your Shared Cost Additional Voluntary Contribution (AVC) scheme, if you have one. 

My Money Matters are here to make it easy for you. We run regular webinars covering topics like understanding the LGPS, your retirement options, and what to expect as you approach retirement — all designed to make pensions easier to understand. We're also running webinars focused on the end of the tax year, to help you prepare your finances. You can view our available webinars here. 

2. Check if you’re on track to your goals  

It’s important to give your pension a purpose. Having a rough idea of what you want from retirement makes planning feel more personal and motivating.  

The new year is a great time to outline your retirement goals and start working towards them. Whether that’s more time with the family, a few more holidays, retiring earlier, or simply more free time. Your pension should be working towards your version of retirement. 

What you can do next: 

Try outlining one simple retirement goal. That’s your starting point. From there, you can begin to think about how much income you might need to support that lifestyle.  

The Retirement Living Standards offer helpful guidance on different retirement lifestyles: 

Household	Minimum	Moderate	Comfortable
One person	£13,400	£31,700	£43,900
Two people	£21,600	£43,900	£60,600

These figures can help you sense-check whether you feel on track to the retirement you want. You can learn more about what the different levels could fund at www.retirementlivingstandards.org.uk. 

Review your pension, review your retirement income projection, and think if you need to take steps to help live the retirement lifestyle you want. Remember, your state pension will support your future income.  

3. See if you could boost your contributions 

Life doesn’t stand still, and your circumstances can change over time. A new job, a pay rise, reduced expenses, or even a one-off bonus can affect what feels affordable to you. 

That’s why it’s worth checking in regularly to see whether you could add a little more to your pension – even small increases could make a big difference over time.  

For LGPS members, a Shared Cost AVC plan can be a simple way to boost your pension. Contributions are taken directly from your pay and benefit from tax relief. 

For example, if a basic rate taxpayer contributed £100 per month into a Shared Cost AVC pot, £138* would be added to the pot due to the tax relief savings on NI and Income Tax.  

If you’re an LGPS member not taking advantage of a Shared Cost AVC, why not join the 50,000 LGPS members that are and save more for your retirement? You can apply in less than 10 minutes here. 

If you already have a Shared Cost AVC scheme and would like to review your contributions, you can do so here.  

 It’s important to remember that whilst Shared Cost AVC schemes can offer valuable benefits, they may not be suitable for everyone, and you should consider if it’s right for you. You can speak to a financial adviser if you require advice, or book a free 1:1 session with a Financial Education Coach, for guidance and support at no cost to you. 

*Basic rate taxpayer savings are a guide & based on current Income Tax (20%) and National Insurance (8%) rates, which are subject to change. These figures are not guaranteed.    

4. Take advantage of your pension’s annual allowances 

Each tax year, there’s a limit of how much you can save into your pension whilst still benefitting from tax relief. For most people, this limit is £60,000 or your annual salary, whichever is lower. This is referred to as your Annual Allowance.

This means that across all your pension pots, including your LGPS, Shared Cost AVCs, and any other pension pot you have may, your Annual Allowance is the maximum tax-free amount you can contribute.

You can even carry forward unused allowances from previous years. If you're getting close to your limits, requests a free 1:1 coaching session and we can explain how this can impact you further,

This limit can help you make informed saving decisions if your circumstances change or you have extra income available. Even occasional contributions – when you can afford to – can help your money work harder for your future. A Shared Cost AVC scheme is always waiting for you to make the most of.  

Remember that we’re here for you 

This checklist isn’t about fixing everything at once. It’s about understanding some steps that you could take to get on track in 2026.  

My Money Matters are always here to support your financial wellbeing, and sometimes talking things through is the best thing to do.  

Our dedicated support team are always on hand to ask any questions. You can call them on 01252 959 779 or email them at support@my-money-matters.co.uk. 

If you’re an LGPS member ready to take the next step with a Shared Cost AVC scheme, our Financial Education Coaches have free 1:1 slots to discuss how a Shared Cost AVC plan could help you retire with more. Book your session today. 

Getting your pension on track is about progress, not perfection. Each small action builds confidence, and confidence is what makes retirement planning feel manageable. In 2026, let’s focus on taking steps towards the future you want.  

Disclaimers  

This blog post is intended for general information purposes only and is not a recommendation of financial advice. The information included is accurate as of January 2026. My Money Matters has no control or responsibility for the external pages linked within this blog, or where any subsequent links you may take you.  

† Data sourced via: https://www.unbiased.co.uk/news/pensions-retirement/new-research-reveals-most-uk-adults-lack-confidence-in-saving-for-retirement  

A Shared Cost AVC scheme is a pension product for active LGPS members, and can only be accessed from age 55 onwards, rising to 57 in 2028. The scheme is facilitated by My Money Matters, and the fund you choose to invest into will be managed by your chosen provider. 

It’s important to remember that as your pension is invested, the fund value can go down as well as up, and you may get back less than you invest. The Pension eligibility and tax rules that apply depend on your individual circumstances and may change at any time.