Your options

As an employee:

• You can make contributions up to 100 percent of your yearly earnings, or £3,600 gross if greater, each year and still get full tax relief including higher rate (if appropriate). You can pay this up to the age 75, even if you are not working. However if your contributions exceed the Annual Allowance, tax relief will be limited.
• You have the option to contract out of the State Second Pension Scheme.
• The minimum gross regular contribution for each member is £100 per month or £1,200 a year (the total employee and employer contribution), with the target average regular contribution for each member across the scheme of £200 a month gross/£2,400 a year (total of employee and employer contribution).
• The initial minimum single contribution or transfer value is £5,000 or if regular contributions are being paid then this is reduced to £1,000.
• Contributions may be stopped or started according to your personal circumstances.
• You can normally take your pension when you're aged between 50 and 75, although the minimum retirement age will rise to 55 for those taking their benefits after 5 April 2010.
• You don't need to stop working to take your benefits.
• You can choose a lifestyle profile that aims to reduce investment risk as you approach your chosen retirement age.  This option is not available when you are taking income withdrawal.