Pensions explained

Pensions explained

From the basics to the baffling. We untangle it all.

With investment, your capital is at risk.

What is a pension?

There are different types of pensions, which behave in different ways but in general you pay into a pension during your working life and use the money saved to create an income in retirement.

The Different types of pensionsOur overview clarifies them all
How do pensions work?Our pension life cycle answers this question once and for all

Pension tax reliefs, benefits and allowances

Managing your pension

The importance of good pension investments

Do you know where your pension is invested?

How small monthly payments can make a big difference

See how they add up over time

What happens to your pension when you leave a company?

Pension options at retirement

Income drawdown

A flexible option for taking income from your pension

Staying invested

Leaving your pension invested when you reach retirement

Lump sum withdrawals

Taking lump sums and your 25% tax-free cash from your pension


A guaranteed income from your pension in retirement

Your pension questions answered

What happens to a pension when you get divorced?

Learn more

What happens to your pension when you die?

Understand more

Pensions for children

Discover more

Pensions for self-employed

Jargon busterStraightforward explanations for popular pension terms