3.5K views · 131 reactions | Value-Added Tax (VAT) is one of the biggest sources of tax revenue in the world. Our latest Back to Basics video explains why over 160 countries have a VAT. https://bit.ly/3tp28VN | International Monetary Fund | Facebook

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These examples show what it takes to build a £250,000 pension pot by age 65, assuming: • Long-term investment growth of 8% per year • No inflation applied (headline future value) • Contributions shown are net of tax for a basic-rate taxpayer, with 20% pension tax relief added automatically Starting at age 30, you have 35 years for compounding to work, so a net contribution of around £136 per month is enough to reach £250,000. Starting at age 40, you only have 25 years, so the monthly contributio