A pension is the savings you make to support yourself in later life.
You may have set up a pension for yourself or have received one from your employer or past employers. There are three main types of pension in the UK, and you can have more than one kind if you wish. The three types of pension are the State Pension, workplace pensions and personal pensions.
A workplace Pension is as it sounds, a pension organised through an employer. Under Auto Enrolment legislation is it now compulsory for employers to set up a pension scheme for eligible employees. An employer must make a minimum contribution, as must an employee.
Retirement planning is a long-term commitment, so it’s essential to incorporate regular reviews of your arrangements to make sure that they remain on track and are meeting your needs. To find out more or to discuss how to maximise your retirement opportunities, please contact us.