What is a personal pension?
A personal pension is your own private pension that you can take from job to job, which is an option if you don’t have access to a company scheme or are self-employed. Essentially, you pay money into your plan and choose where to invest it from a range of funds. These are managed on your behalf and the accumulated value is normally used to buy an annuity (an income for life) when you retire. Find out about personal pensions or you can find out about the tax benefits of saving in a pension below.
Related Questions
- My wife does not work outside our home and therefore will not have pension income that normally results from employment income. How can we set up a retirement income plan for her?
- I am 30 years old and would like to retire at 60.I pension of INR 2,000 per month at today’s prices when I retire. How much do I need to contribute?
- I don have much pension experience. What is the best way to learn more about pension plans?
