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How pension saving works

Young team discussion at table

Saving into this pension is a simple, low cost and tax efficient way to save towards your future. 

  • Your plan is set up for you by Macmillan Cancer.
  • You and Macmillan Cancer pay in, and the government helps out in the form of tax relief.
  • The money that you and Macmillan Cancer pay into your plan builds up your pension pot.
  • Your pension pot is invested in one or more of our investment funds.
  • The aim of an investment fund is to grow the value of your pension pot but this isn’t always guaranteed.
  • We invest your money responsibly and consider environmental, social and governance (ESG) factors in our investment process.
  • You can decide what to do with your money, and how you take it from age 55, whether or not you’ve stopped working.

To help you understand how your Macmillan Cancer Support WorkSave Pension Plan works, take a look at the Key Features document.

Are there any charges for your new plan?

There are some charges that you pay for your Macmillan Cancer Support WorkSave Pension Plan - the annual management charge (AMC) for administration of the pension and the fund management charge (FMC). Macmillan Cancer should have let you know what these charges are.

Contributions and tax  >

The government helps out with tax relief too!

How your pension is invested >

Understand how your contributions are invested and what you need to consider.

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