How pensions work

In its simplest form, a pension plan is designed to help you save for retirement. It aims to give you an income for what could be a large part of your life.

Your contributions into the pension plan will normally be made by SMART Pay.

Remember, your employer also pays into the pension plan and you’ll get tax benefits from HMRC on any contributions you make. Laws and tax rules may change in the future. The information here is based on our understanding in April 2020. Your own circumstances also have an impact on tax treatment.

 Important information

Investments can go down as well as up and may be worth less than what was paid in. Laws and tax rules may change in the future. The information here is based on our understanding in April 2020. Your own circumstances also have an impact on tax treatment.

Get more for your money

It's not just about saving more money - it's also about getting as much extra money as you can.