Pensions are uniquely unforgiving of neglect. Small decisions taken early can produce outsized consequences later, while inertia quietly erodes retirement security.

Too many workers fail to maximise employer contributions, effectively turning down free money. Others accumulate forgotten pension pots, each incurring fees that sap long-term growth. Contribution rates are often set once and ignored, despite rising incomes.

Investment choices, too, deserve regular scrutiny. Default funds may suit the disengaged, but they are not universally optimal.

There are five core principles that underpin sensible pension management:

1. Maximise employer contributions. 
2. Consolidate old pension pots. 
3. Increase contributions gradually. 
4. Monitor fees relentlessly. 
5. Review investment allocation periodically.

Pension planning rewards consistency rather than cleverness. Those who engage early and review regularly are rarely the ones expressing regret later.