If you are an employee you will probably be automatically enrolled into a Workplace Pension scheme by your employer.
If you are not in a Workplace Pension or you decide that your Workplace Pension will not give you the level of retirement income you need when you retire, you will need to arrange a Private (Personal) or Stakeholder Pension.
Based on your Retirement Plan you will already have a good idea of the level of investment you will need to save in order to achieve your required level of retirement income. Choosing the right pension scheme is an important financial decision and there are many things to consider.
If you're unsure as to which pension is right for you contact Pensionwise (incorporated into MoneyHelper). Pensionwise is a free and impartial government service that helps you understand your new pension options.
Alternatively contact a financial adviser before making a decision.
A financial or pensions adviser will also help you decide which particular personal pension is suitable for you.
To help you choose a Financial Adviser, click here.
Always make sure that the financial adviser is regulated by the Financial Conduct Authority (FCA).
You can check this by looking on the FCA website.
Alternatively to find an advisor near you follow this link.
For Top Tips on Choosing a Pension click here.
For a downloadable guide to choosing a pension click here. (downloads as PDF)
Further advice on choosing a Personal/Stakeholder Pension is available from Citizens AdviceGuide.
A downloadable guide to Stakeholder pensions is available here.
If you choose a Money Purchase (Defined Contribution) scheme you will be allowed to choose where your contributions are invested. For a Guide to making pension fund choices follow this link.
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