Company pensions.

What is a company pension?

A company pension is where an employer arranges a pension for their employees. They’re sometimes referred to as an occupational or workplace pension, and usually involve employers putting money into your pension pot when you do.

How do they work?

Normally, your employer will decide on the pension provider, so it’s unlikely you’ll have a say in this.

If your employer offers a company pension where they make pension contributions on your behalf, you should normally join it.

Company pensions vary between employers, so you should check how much you are expected to contribute and what your employer may pay in on your behalf.

Some employers will pay into the pension plan of your choice. All of our pensions, including our Stakeholder pension allow this. 

Even if you have a company pension, you can still open a personal pension. You should consider whether the amount you’re saving into your company pension is enough – you may want to save more.  

---