Options for using your pension pot
Following changes introduced in April 2015 you now have more choice and flexibility than ever before over how and when you can take money from your pension pot. Take your time to understand your optio...
Following changes introduced in April 2015 you now have more choice and flexibility than ever before over how and when you can take money from your pension pot. Take your time to understand your optio...
Under rules introduced in April 2015, once you reach the age of 55, you can now take the whole of your pension pot as cash in one go if you wish. However if you do this, you could end up with a large ...
Group personal pensions (GPPs) are a type of defined contribution pension which some employers offer to their workers. As with other types of defined-contribution scheme, members in a GPP build up a p...
A defined benefit (DB) pension scheme is one where the amount you’re paid is based on how many years you’ve worked for your employer and the salary you’ve earned. ...
If you’re self-employed, saving into a pension can be a more difficult habit to develop than it is for people in employment. There is no-one to choose a pension scheme for you, no employer contribut...
With a defined contribution pension you build up a pot of money that you can then use to provide an income in retirement. Unlike defined benefit schemes, which promise a specific income, the income yo...
A self-invested personal pension (SIPP) is a pension ‘wrapper’ that holds investments until you retire and start to draw a retirement income. It is a type of personal pension and works in a simila...
Once you’ve decided to start saving into a pension, you’ll need to choose where to save. There are many different providers to choose from, but your first task will usually be to select the type o...
A personal pension is a type of defined contribution pension. You choose the provider and make arrangements for your contributions to be paid. If you haven’t got a workplace pension, getting a perso...
When you save for a pension, you should regularly review how it’s invested. And as you get older, you should probably change your investment strategy to reduce risk as retirement draws closer. ...
Stakeholder pensions are a form of defined contribution personal pension. They have low and flexible minimum contributions, capped charges and a default investment strategy if you don’t want too muc...
NEST is a low-cost pension you may be able to join through your workplace or if you are self-employed. Once a member, you can carry on saving this way even if you change jobs or stop working. ...
All employers must now automatically enrol eligible workers into a workplace pension scheme, and contribute to it. In many cases, employers will use a multi-employer pension scheme, sometimes called a...
Our free printed guides are designed to help not for profit and public sector organisations, as well as commercial organisations, helping people to make informed money choices. If you’re an i...