Non-State Pensions / Private Pensions

In addition to the State Pension system, there are a range of private pension savings schemes which offer you the chance to save for, and invest in, your future. Some employers offer their workers an occupational pension scheme, and may even make contributions on their behalf. If you are self-employed or your employer does not offer an appropriate scheme, you can invest in a private pension at most banks, building societies and financial institutions.

It is a good idea to invest in a private pension since the money you contribute will be unavailable to you until retirement age, ensuring you cannot spend your savings! A private pension offers you the chance to increase your financial security and financial flexibility, relieving you of worries about your financial future and ensuring you are able to enjoy the retirement you would choose. Remember that these private pension schemes are long-term investments and you may not be able to access your private pension fund until retirement age. If you are worried about accessing your savings in an emergency, you should seek financial advice from your local Citizens Advice Bureau. For information on the types of non-state pension on offer see Personal Pensions, Stakeholder Pensions and Occupational Pensions.


For further information see:

• Why have an Additional Pension?
• Personal Pension
• Stakeholder Pension
• Occupational Pensions
• Tax-Free Lump Sum on Retirement
• Specialised Occupational Pensions
• Increasing Your Pension
• Contracting Out
• Non-State Pension Saving Limits
• Non-State Pension Tax
• Leaving a Pension Scheme Early
• Claiming Your Non-State Pension
• 'Trivial' Pension Funds
• Annuities
• Income Withdrawal
• Early/Late Retirement
• Non-State Pensions & Family