When working in the UK and planning for your future retirement there are three main types of pension you may wish to consider:
- Occupational pensions such as the NHS Pension Scheme
- State pensions
- Personal pensions
NHS Pension Schemes
Information about pension membership is enclosed with your
Any new starters are automatically opted into the NHS Pension
scheme unless they wish to opt out, if so they will need provide
Payroll with an opt out form (SD502) which they can get from the
NHS Pension website.
Please read this information carefully as it will be assumed you
will be a member of the scheme, and contributions will be deducted
automatically, unless you clearly indicate on the form that you
wish to opt out.
For further information please see the NHS
The State Pension is a regular payment you can receive when you
reach State Pension age. It is based on your National
Insurance contributions (NICs) and how much you get varies.
Basic State Pension
Anyone who has enough qualifying years from their NICs record is
entitled to some basic State Pension. Find out more about qualifying for the basic State Pension
and how much you can get. Or use the State Pension
profiler to estimate how much basic State Pension you may
have built up and when you can claim it.
State Pension Age
Pension age is the earliest age you can get your State
Pension and is based on your date of birth.
Claiming State Pension in another country
If you have paid NICs in the UK you may be able to claim the
state pension even if you no longer live in the UK. However, the
amount will depend on the number of qualifying years of NICs you
have made, and the country in which you live.
The International Pension
Centre will be able to offer assistance.
Personal pensions are available from banks, building societies
and life insurance companies who will invest your savings on your
You can save as much as you want into a personal pension. You
will get tax relief on the amount you put in up to the annual
allowance. Understanding personal
pensions provides further information.