Family Cash:
Financial information for UK families

Familycash provides advice on tax credits, benefits, saving money, obtaining bargains and discounts, investing for your children and accessing cheap education

Pension Funds

If you don't have a pension Family Cash gives advice about the different types of pension in the UK and the benefits to taking out a pension
What is a pension?

A pension is a steady income that is received after retirement, paid on a regular basis to the pensioner. The pensioner can also elect to receive a tax-free lump sum and reduced pension, if they wish. In the UK there are generous tax benefits attached to pensions.

What types of pension are available?

There are various types of pension available:

Should I take out a pension?

There are certainly benefits to be gained by taking out a pension. The state pension may not provide enough money when you retire; your pension pot is increased through tax relief; your pension fund grows largely free of tax; you will have access to tax free cash after retirement; your employer makes contributions that increase your fund; you will have more cash when you retire and so can enjoy your retirement without having to worry about money.

How do I deal with pension problems?

There are some problems that can occur with pensions. The way that you deal with them depends on the type of problem and the type of pension you hold. Visit this site to find out more about how to overcome pension problems.

Where can I find out more about pensions?

Visit the working, jobs and pensions section of the Government information website for more information about pensions. You may also be interested in investing some of your money in an ISA.