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Pension basics

An introduction to pensions and how they work.

Find out how much you should be saving, when and how you can take money out, and how to protect your savings.

Videos

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Pay your pension some attention
 
Gemma Collins
Iona Bain
Social media icon Gemma Collins and money expert Iona Bain have teamed up to encourage you to face forward to your future by paying your pension some attention. 9 Sep 2024 02:00 09 Sep 2024

Getting started on the road to retirement

Comedian Mark Watson shares tips on how to save for your future. Learn about company pension plans, how your money is invested and why starting to save early gives your money the ‘snowball effect’. Part of the Pension Sessions series.

30 Aug 2024

07:26

1 May 2025

What is a pension plan? (Salary sacrifice)

Comedian Mark Watson explains how a pension plan can help you save for later in life. With a combination of tax relief and potential employer contributions, the amount you contribute could be larger than you think. For members of a Salary Sacrifice scheme. Part of the Pension Sessions series.

1 May 2024

05:06

1 May 2025

What is a pension plan? (Net pay)

Comedian Mark Watson explains how a pension plan can help you save for later in life. With a combination of tax relief and potential employer contributions, the amount you contribute could be larger than you think. For members of a Net Pay scheme. Part of the Pension Sessions series.

1 May 2024

05:01

       

1 May 2025 

What is a pension plan? (Relief At Source)

Comedian Mark Watson explains how a pension plan can help you save for later in life. With a combination of tax relief and potential employer contributions, the amount you contribute could be larger than you think. For members of an RAS scheme. Part of the Pension Sessions series.

1 May 2024

05:05

1 May 2025  

Salary Sacrifice

With salary sacrifice, your pension contribution is taken directly out of your gross salary and could reduce your tax and National Insurance payments. Find out if it’s right for you. Part of the Money Lab series.

14 Feb 2024

02:29

30 Sept 2024

Automatic Enrolment (contributory)

All employees are now automatically enrolled in their company pension scheme but can opt out if they choose to. Yours is a contributory pension so you, your employer and the Government all pay in to boost your savings. Here’s how it works. Part of the Money Lab series.

14 Feb 2024

02:24

30 Sept 2024

Automatic Enrolment (non-contributory)

All employees are now automatically enrolled in their company pension scheme but can opt out if they choose to. With a non-contributory pension, your employer contributes in full so you don’t have to. Here’s how it works. Part of the Money Lab series.

14 Feb 2024

02:38

30 Sept 2024

Asset Classes

Asset classes describe the different types of thing you can invest your money in, whether that's commodities, property, bonds or something else. Learn the basic pros and cons of the five main classes. Part of the Money Lab series.

08 Mar 2024

03:01

30 Sept 2024

Tapered Annual Allowance (TAA) Explained

Most people get tax relief on the first £60,000 of their pension contributions each year, but in some cases this amount is lower. This short video explains if the tapered annual allowance applies to you. Part of the Money Lab series.

08 Mar 2024

03:25

30 Sept 2024

Money Purchase Annual Allowance (MPAA) Explained

If you take more than your 25% tax-free amount from your pension while you’re still working, it could reduce your annual allowance and make future contributions less tax-efficient. Find out more about the MPAA. Part of the Money Lab series.

08 Mar 2024

02:24

30 Sept 2024

Tools

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MyPlan interactive

Answer five simple questions to see if your savings are on track to meet your retirement goals.

13 Jan 2023

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How much should you save for retirement?

Check that you’re saving enough to maintain your lifestyle when you retire. Read our four top tips and use this simple tool to see how much you should put away each year.

13 Jan 2023

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How much do you need to retire?

Our rule of thumb for retirement savings is The Power of 7, or seven times your annual household income. Read our guidelines then use this simple tool to work out your saving milestones.

13 Jan 2023

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Pension locater 

Get answers to your pension questions quickly with our locater tool, an intuitive decision tree that you can use again and again.

23 Jan 2023

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Guides

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Making a withdrawal from your pension

There are four ways to withdraw money from your pension. Read this simple guide to find out what they are, when you can access your savings, and how to save money on tax.

13 Jan 2023

6 pages

31 March 2025

Redundancy and your pension

Redundancy and your pension salary sacrifice

There’s a lot to think about if you’re facing redundancy. Learn how your workplace pension is protected and what your options are in this simple guide.

1 Feb 2023

2 pages

31 Dec 2024

Transfers factsheet

Thinking of moving your pension savings? We go through the pros and cons to help you make a decision that’s right for you

1 Feb 2023

4 pages

31 Oct 2024

Images

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Pension Tracing Day

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Digital banners to encourage members to trace their old pensions. Three sizes of banner for use in different applications.

These assets are under embargo by the ABI/PLSA and should only be used from Friday 25 October 2024

22 October 2024

22 October 2025

Pay your pension some attention

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Virual pension center

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Digital banners to encourage members to pay their pension some attention by logging in to PlanViewer and joining our Virual Pension Center.

23 August 2024

31 September 2025

Nominate your beneficiaries

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Your pension is valuable, so it’s important to let us know who should receive it if you pass away. Three sizes of banner for use in different applications.

22 Apr 2024

22 Apr 2025

Poster

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Pension Tracing Day

A3 digital
A4 digital
A4 print

Posters to encourage members to trace their old pensions. A3 and A4 posters with QR code.

These assets are under embargo by the ABI/PLSA and should only be used from Friday 25 October 2024

02 October 2024

22 October 2025

Pay your pension some attention

A3 digital
A4 digital
A4 print

Virual pension center

A3 digital
A4 digital

Posters to encourage members to pay their pension some attention by logging in to PlanViewer and joining our Virual Pension Center.

23 August 2024

31 September 2025

Face forward for the future 

A4 digital
A4 print

3 small steps to face forward to the future today. An A3 and A4 poster.

23 August 2024

31 September 2025

Nominate your beneficiaries

A3 digital
A4 digital
A3 print
A4 print

Your pension is valuable, so it’s important to let us know who should receive it if you pass away. Digital and print posters in different sizes.

22 Apr 2024

22 Apr 2025