What is a personal pension?

Pension Scheme Types

 A pension is a tax-efficient savings plan that helps you build up a pot of money to fund your lifestyle when you want to reduce your working hours or retire. Whilst you can get a basic level of income from the state pension, this may not be enough to live well 

If you are in permanent employment, then your employer may have set up a pension for you.

However, if you’re self-employed or run your own limited business then this is something you need to arrange for yourself. 

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