Pension
An account designed to help people save for their retirement. With a pension, individuals and employers enjoy generous tax relief on money they pay in. And any investments it holds can grow free of tax.
You can normally access your pension from age 55, rising to 57 in 2028. When you access your pension, you can take up to 25% tax-free – with the rest available to provide you with a taxable income.
There are different types of pension – including pensions set up by your employer, and pensions you set up yourself. You'll see these referred to as 'private' or 'personal' pensions.
More on PensionsPopular terms
A simple, low-cost pension where you choose from four AJ Bell fund options.
Money paid in is automatically invested...
The Pension builder fund is AJ Bell’s low-cost standard option, designed to help you invest the money you’ve paid into...
A type of pension that you set up yourself. You control how much you pay in (and when) as well...