Pensions can be confusing little beasts. For one thing we give the word two meanings - both the thing we save into and the money we live on in retirement. So we've done a back to basics guide to what they are and how they work. We look at the three main types - workplace, private and state, why a pension can mean free money, and if there really is a chance something could go wrong and you lose all your retirement savings.
Advertisement
POPULAR MONEY SECTIONS
- Best savings rates tables
- Find the best mortgage calculator
- Power Portfolio investment tracker
- Stock market data and share prices
- This is Money's podcast
- This is Money's newsletter
- The best DIY investing platforms
- The best bank accounts
- The best cash Isas
- The best credit cards
- Save on energy bills
- Compare broadband and TV deals
- How to find cheaper car insurance
- Investing Show videos
- Financial calculators
What should you do in the event of a stock market crash? Top tips for getting through a fall – and shoring up your investments...
What's the best way to give to charity? There are 180,000 charities in the UK - we reveal how to give to make sure your cash has...
What is inheritance tax, how do people avoid paying it and when is it taken from an estate? Wealth Club's Alex Davies explains
What is an investment trust and why would you want to put your savings into one? Fidelity's Alex Denny explains
Worried about plastic in the ocean and cars polluting? How to invest to help the environment - and earn good returns
How can you get the maximum enjoyment from the money you have? Ad man Rory Sutherland shares his offbeat tips on being a savvy...
Why you should be WORRIED if your whole portfolio is rising: Here's why you should hold investments you hope to lose money on
Does tax have to be so blooming complicated? Office of Tax Simplification boss Angela Knight reveals if a red-tape bonfire is...
How to get the money you need for the lifestyle you want: Entrepreneur and multi-millionaire Rob Moore shares his tips
What is a dividend? We explain how they can make you richer, how they work and why you might be getting them without even...
Can you live a champagne lifestyle on a lemonade budget? Multi-millionaire property investor Mark Homer thinks you can and tells...
What is an Isa? We explain what they do, how to pick the best one for you and how they can make you richer
Will artificial intelligence become cleverer than humans? We look at what it would mean for our jobs, planet – and how we need to...
SAVE MONEY, MAKE MONEY
-
Credit cards
Best balance transfers, reward cards and more -
Life insurance
See the lowest rates on the market -
Savings accounts
Cash Isas, easy access, fixed rates and more -
Current accounts
Earn interest and rewards on your money -
Best mortgages
Expert advice on the right deal for you -
DIY investing
Best and cheapest ways to invest in shares and funds
Advertisement
DON'T MISS
- One in four younger investors now get investment ideas from Reddit
- Younger generations are more likely to shun making a will: How to ensure your last wishes are met
- The great US infrastructure investing opportunity - and how to profit Ad Feature
- RAY MASSEY: Are you driving a future classic?
- I'm worried I'll lose half my pension if my provider goes bust: What can I do?
- Freetrade launches flexible stocks and shares Isa
- MG unveils Cyber GTS concept that looks set to be the electric spiritual successor to the MGB GT
- EXCLUSIVENationwide will scrap passbooks from February 2025
- Thinking about equity release? What to tell your family Sponsored
- What savers must do now before a Labour Budget targets their nest eggs: SYLVIA MORRIS
- Ford Capri is back but not as you know it! Ford's cult classic name controversially returns for a new £42k electric SUV
- I'm inheriting £10m - can I set up an investment trust to manage it for my family and cut tax?
- What will happen to pensions under Labour: Will it cut tax relief or raise state pension age?
- Getting a new toilet could save you £109 a year on water bills - with waste costing some homes £300 each
- Who is new housing minister Matthew Pennycook - and can he build Labour's 300,000 homes a year?
STEVE WEBB ANSWERS YOUR PENSION QUESTIONS
- Why does Nest have stricter rules than other pension schemes?
- I'm on Universal Credit - will my private pension payments be taken into account?
- If I take 25% tax-free cash from my pensions can I then pay more into them?
- I've tried for 19 YEARS to get a one-year error in my NHS pension record put right
- I'm seeing a financial adviser about my pension - what should I ask them?
- My disability benefit hasn't protected my NI record and I'm 18 years short due to missing credits
- I'm worried about losing annuity income if my husband dies before me
- Can I get my private pension at 55 due to this bizarre birth year quirk?
- I'm struggling to hit a tight deadline to turn six pensions into a £17,500-a-year annuity
TOP CALCULATORS
- Historic inflation: how the value of money has changed The effects of inflation since 1900 and what past prices mean today
- True cost mortgage tool - rates AND fees Compare the cost of rival fixed and tracker rate mortgages
- Monthly or lump sum savings calculator How much a regular monthly savings scheme could make or a lump sum could be worth.