Frequently asked questions
When do I get it?
This depends on the rules of the scheme you belong to. You will usually
be able to start claiming your pension and benefits from the age of 50
(although by 2010 the qualifying age for all pensions will usually be
55). But the longer you continue to work and to pay into your scheme,
the more money you are likely to get when you do decide to retire. Most
people choose to wait until they are 60 or 65. However, you don't
have to retire from work to get your pension benefits.
When do I make payments?
Usually, your provider will ask you to make regular payments into your
personal pension every month. But some people, in particular self-employed
people, prefer to make contributions every year.
How much do I get?
The amount of pension you will get depends on how much money has been
paid into your fund by the time you retire and how well the investments
have grown. Every year your provider will send you a forecast of how much
your personal pension fund is worth. This will give you an idea of what
you can expect to get when you retire – and help you decide if you
need to save more.