Creating A Better Financial Future 

About Pensions 

About Pensions  

Although there are different types of pension schemes available, they all have the same aim – to help you save money and provide you with an income when you’re older.  
 
In this section, I introduce what some pension schemes are and how they work, before and after retirement. 
An Occupational Pension (through an employer’s pension scheme) – This could be a Final Salary Scheme (sometimes referred to as Defined Benefit) or a Money Purchase scheme (usually referred to as Defined Contribution). 
Pensions deriving from Final Salary schemes are usually based on your years of service and final salary multiplied by an accrual rate, commonly 60ths or 80ths schemes, although this will vary from scheme to scheme. The benefits from a Money Purchase scheme are based on the amount of contributions paid in and how well the investments in the scheme perform. 
Contact 
Personal 
Pensions 
State 
Pensions 
SIPP 
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