With this type of pension scheme, you get a pension pot and you and/or your employer add money into it. (Like The People’s Pension.)
- The money is invested for you over time – to build up a pot of pension savings to help you in later life.
- How much you end up with you depends on how much you save, charges and how your investments perform.
- There are a few kinds of defined contribution pension – personal, workplace occupational (like The People’s Pension) and stakeholder.