Halifax customers 'can turn every £1,000 into £1,250'

Halifax customers 'can turn every £1,000 into £1,250'It has been in touch directly with its customers to tell them they might want to look beyond what they already haveCommentsMoneySteven Smith Content Editor13:03, 20 Apr 2026View 3 ImagesHalifax explained different ways to do it(Image: Huw Fairclough, Getty Images)Halifax has been directly in touch with customers to outline how they can transform every £1,000 saved into £1,250. In an email, it discussed the topic of pensions.‌It stated: "You may already have a workplace pension - but is it enough? Happy new (tax) year! It's a fresh chance to use your annual pension allowance and keep more of what you earn. With tax relief, your pension can grow faster, making it one of the smartest ways to save for later life.‌"Pay £1,000 into your personal pension and it will become £1,250 with tax relief. 20% basic rate tax relief is automatically applied for everyone. That's an extra £250 added, without you earning a penny more.‌"Your workplace pension's always your first stop, especially because your employer adds money too. But if you've already got the most out of your employer, or have additional income you want to save, a personal pension can be ideal."View 3 ImagesThere are different options(Image: Giuseppe Lombardo via Getty Images)The bank went on to describe its "two flexible options". The first is a ready-made pension.‌This is overseen by specialists to align with an applicant's age and retirement schedule. It features a stronger growth emphasis when retirement is distant and reduced risk as retirement approaches. It can be monitored and topped up at any time through Halifax's mobile banking app.The second option is a Self-Invested Personal Pension (SIPP). This gives customers full control, allowing them to decide everything from investment choices to how they access their pension.It warned that a ready-made pension or a SIPP "may not be suitabl...