Pensions explained

Finding & Transferring pensions

Pension Contributions

Pension Withdrawal

Retirement Planning

Socially Responsible Investing

Family and Care

Safety and security

Pension Types

Our Pension Types section is the ideal place to identify your pensions. Discover the difference between defined benefit and defined contribution, and learn what workplace pension you might have been enrolled in. Or if you’re nearing retirement, get to grips with drawdown and annuities.

Should I draw down or buy an annuity?

Unsure whether you should draw down or buy an annuity? Find out more about the benefits and drawbacks of each and see how they differ.

State Pension Forecast

The State Pension is a regular payment that some retirees receive after meeting the UK government’s eligibility criteria. Find out more.

The pros and cons of defined benefit pensions

Find out how defined benefit pensions differ from defined contribution pensions, for better and worse.

What is a capped drawdown pension?

Find out what a capped drawdown pension is and how it works, including the impact of exceeding your withdrawal cap.

What is a crystallised pension?

Find out what a crystallised pension is, how you can gain access, and understand the rules around withdrawals.

What is a defined benefit pension?

A defined benefit pension or 'final salary pension' is one that pays you an income on retirement based on your most recent previous salary.

What is a defined contribution pension?

With defined contribution pensions you and your employer contribute, then your pension provider claims tax relief on your behalf.

What is a drawdown pension?

Find out what a drawdown pension is and how it can enable you to flexibly access your pension in retirement.

What is an AVC pension?

An AVC pension is an 'additional voluntary contribution' pension that you can build alongside your workplace pension scheme.

What is a pension annuity?

A pension annuity is a financial product that pays you a guaranteed income for a fixed period or for the rest of your life. Find out more.

What is a personal pension?

A personal pension is a saving product that you can set up yourself to save for your retirement.

What is a private pension?

Private pensions work in a similar way to workplace pensions, but are set up by you rather than your employer.

What is a public sector pension?

If you’ve worked in the public sector, you may have a public sector pension. Find out what a public sector pension is and how they tend to be different.

What is a salary sacrifice pension?

Find out what a salary sacrifice pension is and how it works. Discover the tax benefits it can provide and the pros and cons.

What is a SSAS pension?

Find out what a SSAS pension is and how they work. Learn what rules apply and the learn more about the flexibility they can provide.

What is a stakeholder pension?

Find out what a stakeholder pension is and learn how anyone can invest in one, whether they are in permanent work, self-employed or unemployed.

What is Auto-Enrolment?

Under UK law all employers must offer a workplace pension and automatically enrol their eligible workers in the scheme.

What is a workplace pension?

Workplace pensions are arranged by your employer, with contributions taken directly from your wages and paid into your pension.

What is flexi-access drawdown?

Flexi-access drawdown is one of the ways to use your pension money when you reach retirement. Find out how it works.

What is the State Pension?

The State Pension is a regular payment you can receive from the government once you reach State Pension age. Find out more.

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