There are three main ways you might build up a pension that can help give you an income when you retire. These are the State Pension, workplace pensions and the ones you set up yourself.
In our Pension Types section, you can learn about the different types of pensions, such as defined benefit and defined contribution pensions, how much State Pension you might be entitled to, and where to get help if you want to start saving into a pension for the first time. If you’re nearing retirement, you can also read up about drawdown and annuities in our guides.
Find out what defined contribution and defined benefit pensions are and how they work. Learn how to build your pension pot over time and how you can access your savings in retirement.
Most people build up entitlement to the State Pension throughout their working life by paying National Insurance contributions. The State Pension often forms the foundation of your retirement income, and our guides help you to understand what you need to know about it, including how it works, and how to increase the amount you receive at retirement.
If you are working in the UK, chances are that you have been auto enrolled into your workplace pension scheme. Here we discuss everything you need to know about workplace pensions, how auto-enrolment works and how you can navigate your pensions.
If you’re considering seeking professional financial advice on the options available to you, we’ve partnered with nationwide independent advice firm Fidelius to offer Rest Less members a free initial consultation with a qualified financial advisor. There’s no obligation, however if the adviser feels you’d benefit from paid financial advice, they’ll talk you through how that works and the charges involved.
Fidelius are rated 4.7 out of 5 from over 1,500 reviews on VouchedFor, the review site for financial advisors.
Contributing to a personal or private pension is a great way to save towards retirement so you can fund the lifestyle you want after you stop work. Here we explain what personal and private pensions are, how tax relief works and the different options available to you.
If you’re nearing retirement, now might be a good time to start considering your options for receiving an income from your pension. If you have a defined contribution pension you can, for example, choose to take an income from your pot by using pension drawdown, or buy an annuity in return for a guaranteed income. Here we explain how pension drawdown and annuities work, and where to get further help.
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