Individual Pensions

An individual pension can allow you to save for your retirement, especially if you are self-employed, don't have access to a company pension scheme, or you simply fancy going it alone. This personal pension pot always you to continue saving regardless of where you are working; you can even pay into an individual pension if you're not working, up to certain limits.

There are three main types of individual pensions: stakeholder pensions, personal pensions and self-invested personal pensions (SIPPs). All three types benefit from tax relief. Stakeholder and personal pensions are a money purchase type of pension, with stakeholder pensions being particularly suitable if you can only afford to save small sums. A self-invested personal pension is a specialist type of product for those who want to make their own investment decisions and are comfortable with the higher risk associated with these plans.

To find out more about each of these schemes, select an individual pension type from the menu below.