- Joining the pension
Get the most from your pension
- Use the tools
- Boost your pension
- Approaching retirement
- Contribution options
- Your investment options
- Things to know about investing
- What are the charges?
- Check or change your investments
- Common questions
How pensions work
In its simplest form, a pension plan is designed to help you save for retirement. It aims to give you an income for what could be a large part of your life.
Your contributions into the pension plan will normally be made by salary sacrifice.
Remember, your employer also pays into the pension plan and you’ll get tax benefits from HMRC on any contributions you make. Laws and tax rules may change in the future. The information here is based on our understanding in April 2019. Your own circumstances also have an impact on tax treatment.
Investments can go down as well as up and may be worth less than what was paid in. Laws and tax rules may change in the future. The information here is based on our understanding in April 2019. Your own circumstances and where you live in the UK also have an impact on tax treatment.