Finance expert Martin Lewis has issued a warning to anyone thinking of opting out of a pension scheme offered by their employer.
Millions of workers are automatically put onto a workplace pension scheme - a process known as auto-enrolment - where your employer and the Government pay into your final balance.
The pension funds will then be available to workers after they are 55 years old.
Under rules of the scheme, a minimum to pay into the pot is 8%, with the employer having to contribute at least 3% of your pay cheque.
This means workers will have to put in 5% to reach the minimum.
In the Martin Lewis Money Show Live, the financial guru said a worker adding £80 into an auto-enrolled pension will end up with £160 paying out when they collect the money.
The figure being paid in could drop for a higher tax payer, meaning the yield would be even greater when they receive their pension.
Martin Lewis said: "In effect, you lose £80 in your pay packet but you get double that, £160 going into your pension.
"For a higher rate tax payer it costs you £60 and you get £160, nearly treble going into your pension.
"And that is unbeatable. There's nowt out there like it so my big message is that if you opt-out, you are effectively giving up a pay-rise and you're giving up the tax benefit too.
"Of course, you are going to take home less, but the pension return is so important, so don't opt out unless you absolutely have to."
The money expert says many people often chose to opt-out of workplace pension schemes if they are struggling with immediate debts, such as payday loans, bank charges, or their overdrafts.
He says it can be worth opting out if you already have a valuable pension plan that could then push you over the lifetime allowance of £1,073,100.
If there is a chance, or your existing pension is complex, he says it may be worth consulting a financial adviser.
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