Intro to Pensions

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1 min read

Pensions. The word itself might sound a bit…meh.

But they’re basically a way for you to save money for ‘future you.’ It’s the money you’ll live on when you retire. Since you won’t be working for a salary during retirement, your pension will replace that money.

You might think you’re too young to think about retirement but the earlier you start, the better.

chapterWhat’s a pension?Pensions

What’s the first thing that comes to mind when you think of the word 'pension'? Do you feel hopeful and excited? Or does it fill you with dread, confusion, or mistrust...

chapterWhat are the different types of pensions?Pensions

Pensions are one of the best ways of putting money away for future you.  There are lots of different types of pensions, so we’re going to cover the main ones b...

chapterHow does a workplace pension work?Pensions

A workplace pension is a great way to put money aside for the future. In this kind of pension, you and your employer pay into a savings pot every month. This is the mone...

chapterWhy pay into your workplace pension?Pensions

The biggest reason for paying into your workplace pension is that when you do, your employer does too!  As a minimum, they’ll pay 3% of your salary into your p...

chapterWhat is employer matching?Pensions

When you pay into your workplace pension, your employer pays an amount into it too. This amount will be the equivalent of 3% of your salary. Some employers encourage ...

chapterWhat is auto-enrolment?Pensions

In a nutshell, auto-enrolment is when your employer automatically adds you into a workplace pension scheme without asking you in advance. Is this a new thing? It�...

chapterWhat is a salary sacrifice pension? Pensions

A salary sacrifice pension is where you agree with your employer to give up part of your salary so you can get extra employer pension contributions. It’s sometimes cal...

chapterHow safe is my pension?Pensions

Whenever something major happens with the economy, especially if it causes financial turmoil (like the UK’s mini-budget in September 2022), a question you might be ask...

chapterWhen can I access my workplace pension?Pensions

One of the most common questions people have about their pension is, ‘well, when can I even access it’?  It can feel a bit strange to lock money away for suc...

chapterHow much should you put in your pension?Pensions

This can feel like a big question with lots of unknown unknowns. Since your pension is basically your salary for ‘future you’, the simplest way to figure out how muc...

chapterHow do I find my workplace pensions?Pensions

What’s all this about lost pensions? There are £19.4 billion pounds worth of ‘lost’ pensions in the UK, according to the Association of British Insurers. That�...

chapterShould I consolidate my old pensions?Pensions

Do you know how many times the average person changes jobs in their lifetime? 12 times, according to the latest available public survey data from 2019.  With eac...

chapterHow to pick a pension consolidation providerPensions

Once you’ve decided you want to consolidate your pensions, the next action is to choose who to use. Choosing what to do next can feel like an overwhelming decision....