If I put ￡80 into a pension now it becomes ￡100 in the UK. I then invest it for 25 years say at an average of 3%.

But if I just invest the ￡80 for 25 years at average of 3% - and then in 25 years time I put it into a pension pot (so get extra 25% credit) I have the same figure ￡203 in my pension pot. But also had the 25 years of flexibility.

I would have thought the extra ￡20 making 3% on average for 25 years would give extra gains - but using excel it doesn't?