A personal pension is also known as a private pension. They are provided by pensions companies and are intended to give you a second pension to help you have a secure retirement.
If you cannot, or do not, pay into an occupational pension scheme, you may want to think about a personal pension.
You may be able to contribute to a personal pension or a stakeholder pension as
well as an occupational pension. This will depend on your income
and the amount of contributions you currently pay.
These pensions can be paid as well as the basic State Pension.
You can use a personal pension to contract out of the Additional State Pension.
How much you get depends on your pension scheme and the payments you have made to it.
The company running your pension scheme will answer any questions about it.
You can get more information from a series of DWP leaflets all about pensions. You can get these leaflets by calling the Pensions Information order line on 0845 7 31 32 33, or by writing to:
Check out our planning ahead section for more information on how to plan for retirement. See our useful links section for more links to helpful information on personal pensions.
The Financial Services Authority website offers general information about financial services and products. Or call their helpline on 0845 606 1234. Lines are open Monday to Friday 8am to 8pm. Calls are charged at local rates.
Information on Pension Credit is available online in our Pension Credit section.
Apply for a pension forecast to find out how much State Pension you can expect in retirement.
Remember that this website is only a general guide to benefits and schemes and is not a full and authoritative statement of the law.