TYPES OF PENSION
There are 4 main types:
- Occupational salary-related schemes – offered by some employers;
- Occupational defined contribution schemes (also known as ‘money purchase’ pension schemes) – also offered by some employers.
- Stakeholder and personal pensions – you can start these yourself, or you may be offered a stakeholder pension or a group personal pension (GPP) at work.
- The State Pension: Made up of the basic State Pension and the additional State Pension.