‘A mistake nobody is telling you about your pension is costing you 1000’s’

However, Fernanda clarified the commentary she is sharing shouldn’t be taken as common “financial advice” as each particular person’s state of affairs is totally different.

The video included the caption: “This is not financial advice, just some food for thought as this is a very nuanced topic.”

In the TikTok, the content material creator defined: “Here’s what nobody is telling you about your pension and it could be costing you thousands.

“What a lot of people don’t understand about their pension is that the pension is not an account. A ‘pension’ is a tax wrapper.

“[It] means that every time you put money in there, you are getting tax relief from the Government.

“This translates to actual money from the Government being deposited into this account.”

Halfway via the clip, Fernanda highlighted that that is relevant for fundamental price taxpayers with larger and extra price payers having to assert some tax aid through a Self-Assessment kind.

She added: “Whenever you dismiss your pension as somewhere you need to be investing through or you opt out of your workplace pension, you’re leaving money on the table.”

In the remark part of the video, viewers enquired about what they need to be doing to keep away from dropping this money.

One commenter named Lewis requested: “So, basically I should up my pension? I can add extra if I want to?”

In response to this query, the younger content material creator stated: “Yes, you can.”

Those serious about additional monetary commentary can observe Fernanda’s TikTok channel (@frnndgdlh) for extra content material.