Joining your employer’s pension plan means you’ll receive extra money to help boost your retirement income. You'll often receive additional benefits as part of the plan, too. Find out more about the advantages of having a workplace pension below or log in to explore the benefits of your own plan in detail.
Your workplace pension at a glance
- Helps to make up the difference in income when you leave working life and enter retirement
- Your employer makes regular contributions
- You can contribute too
- You benefit from pension tax relief
- You can decide where to invest your money or you can leave it to the experts
- You choose what to do with your investment at retirement
Why start now?
Your pension is yours for life. Even if you change employers, your pension pot remains yours. The longer you save the more time there is for your money to grow, although this is not guaranteed. So, the earlier you start contributing the better.
Consider David and Mike. David starts investing £100 a month when he is 25; Mike invests £200 a month from the age of 45. By retirement, both have saved the same amount (£48,000). However, assuming both their investments grow at 5% a year, David’s ends up with almost twice as much as Mike simply because his money is invested for longer.
This example uses assumed figures and is for illustrative purposes only
Unless you choose to transfer your pot, any money you invest in your pension will normally remain in your plan until you reach the minimum retirement age (currently 55) and decide to take your benefits.
Stay on track
Our useful tools and calculators can help you work out how healthy your finances are today, and how much you should be saving for the future.
We are responsible for total client assets of £305 billion from over 2.2 million clients across Asia Pacific, Europe, the Middle East, and South America. We’ve been helping people save for their retirement and other long-term investing goals for nearly 50 years.
How we protect your money
As an independent global investment company, we have a number of measures in place to help safeguard your pension.
Learn more about pensions
Find out more about the types of pension available in the UK, and the differences between them.