Defined contribution (pension)
A type of pension that you build up over time. The level of income you receive at retirement depends on how much you’ve paid in (yourself, or via your employer) and how your investments have performed.
The income choices you make at retirement also have an impact on the level of income you can take out. See also defined benefit (pension).
More on Pensions and retirementPopular terms
Ready-made pension
A simple, low-cost pension where you choose from four AJ Bell fund options.
Money paid in is automatically invested...
Pension builder
The Pension builder fund is AJ Bell’s low-cost standard option, designed to help you invest the money you’ve paid into...
Non-workplace pension
A type of pension that you set up yourself. You control how much you pay in (and when) as well...