The main types
- State Pension: paid by the government based on your National Insurance record.
- Workplace pension: you and your employer contribute, often with tax relief.
- Personal pension or SIPP: one you set up yourself.
Why they are powerful
Contributions usually get tax relief and the pot grows largely tax-free, so money invested early has decades to compound. Employer contributions are effectively free money.
Frequently asked questions
How much should I pay in?+
More is generally better, and capturing the full employer match first is a strong move. This is guidance, not advice — a regulated adviser can tailor it.