If you want to start saving in a pension or save more than your current scheme allows, you can save into your own private pension.
What’s in this guide
What to look for when choosing a pension
Different pension schemes have different terms and conditions.
Here are some things you need to think about when choosing your pension and provider:
- Is there a minimum or maximum level of contribution I can make?
- Will I have the option to stop and start my contributions, without penalty?
- Can I pay in lump sums, as well as regular contributions?
- Is there clear information about where I can invest my contributions?
- Does the scheme offer the right range of investments for me?
- What are the charges?
- What help and support does the provider offer to help me plan for my retirement and monitor my investment options (including online access)?
There are many pension schemes to choose from, find out more in our guides:
Personal pensions
Stakeholder pensions
Self Invested Personal Pensions
These are offered by insurance companies, banks, building societies and other pension providers, including online companies.
You can join these even if you’re already a member of a workplace pension.
Need more information on pensions?
Call our helpline free on 0800 011 3797 or use our webchatOpens in a new window. One of our pension specialists will be happy to answer your questions.
Our help is impartial and free to use, whether that’s online or over the phone.
Opening times: Monday to Friday, 9am to 5pm. Closed on bank holidays.
What to do when you’ve decided on a pension
When you’ve decided on a private pension that’s right for you:
- You can go direct to the firms that sell them – compare their products and make your own decision about which one to choose. But with this route – if you make the wrong decision and the product you choose turns out to be unsuitable, you’re less likely to be able to make a complaint.
- Or you can use a regulated financial adviser – they’ll compare products on the market and make a recommendation personal to you.
