Joanne Gascoyne has managed to build a £220,000 pension by the age of 46 – not by scrimping, but through steady saving over two decades. A digital transformation consultant from Sheffield, Joanne appears to live comfortably. She enjoys regular holidays, shops mindfully, and treats her family to days out. But behind the scenes, she’s been steadily building long-term financial security since the beginning of her working life. Speaking to The i Paper, the mother-of-two said: “I started paying into a pension when I was 21. It wasn’t mandatory at the time, but my first job offered employer contributions, so I joined. I didn’t really take it seriously until I hit my thirties – after I had kids, it became about more than just me.” (Photo: Joanne McCaffery)

'It doesn't feel like a sacrifice'

Today, Joanne contributes around 15 per cent of her income to her pension each month, a percentage her employer matches. Her success, she says, is down to putting saving on autopilot. She explained: “It’s deducted straight from my salary like a bill. No thinking, no temptation, and no option to skip it or play around changing the amounts. If it’s out of sight, it quietly builds without feeling like a sacrifice.” Her pension fund has grown thanks to consistent contributions, strong employer matches, and the tax relief that comes with paying in before tax. She said: “I’m in the 40 per cent tax bracket, so pension contributions are effectively discounted. It feels like a no-brainer.” (Photo: Brian A Jackson/Getty/iStockphoto)

Financial difference with peace of mind

Higher-rate taxpayers – those in the 40 per cent bracket – can claim up to 40 per cent total relief on their pension contributions. For every £100 she puts into her pension, for example, it only costs her £60 in real terms. Roughly 60 per cent of Joanne’s current £220,000 pot has come from her own contributions, and 40 per cent from employers. But one of the biggest turning points came when she consolidated her old workplace pensions. Joanne said: “Apart from my current pension, I’ve moved all my other old pensions from previous employment into one scheme to keep things tidy. I took the time to track them all down, with help from my financially savvy mum, and moved them into one place. It made a huge difference, not just financially, but in peace of mind.” (Photo: Andrey Popov/Getty)

Overpaying the mortgage

Research from the money app Plum highlights the pressure many women still face around managing finances. It found 53 per cent say they feel judged for how they spend or save. Joanne said: “My parents were smart with money – not showy, just in control. They lived within their means, invested regularly, and taught me to do the same. Now I do that with my kids.” She and her husband overpay their mortgage each month and hold separate savings pots, including over £3,000 in personal funds and another £3,000 set aside for family emergencies. (Photo: Yutthana Gaetgeaw/Getty/iStockphoto)

'I want options in my sixties'

She uses ISAs, self-invested person pensions (SIPPs), and investment accounts on platforms like Plum and Hargreaves Lansdown. Even her children have their own savings and investment portfolios. “People might see me spending on holidays, but they don’t see the structure behind it. I never spend what I don’t have – that’s what lets me enjoy life guilt-free.” While she hasn’t fixed a retirement figure, flexibility is her goal. She added: “I want options when I hit my sixties. I don’t want to be worrying about money or regretting not planning ahead. I’ll keep contributing at the same level for now, maybe more once the mortgage is gone.” (Photo: Nora Carol Photography/Getty)

Income drawdown over an annuity

When the time comes, she’s leaning towards income drawdown over an annuity because she likes the idea of staying in control and adapting depending on what life looks like. But she said she will get proper advice first, adding: “For now, it’s about growing the pot and keeping my options open.” (Photo: Gareth Fuller/PA)