Because you work hard, you want to be able to enjoy life when you stop working. Saving into your workplace pension could help you do just that.
You're already a member of your workplace pension. Your pension contributions can build up a pot of money to give you benefits in the future. The benefits you might get from your pension depend on things like:
- the amount you pay in
- how long you pay in for
- the performance of the funds you invest in
- the impact of charges, and
- the choices you make when you decide to take your money.
You can change your contributions and fund choices to suit you. And when it comes to taking your money, you can choose how you take your benefits.
- Tax efficient: your contributions are tax efficient, so they could cost you less than you think. Your tax savings could change depending on your circumstances. Tax rules can also change in future.
- Flexible employee contributions: you can change your regular contributions whenever you want. You can even make one-off payments if you have spare cash one month, or even get a bonus.
- Employer contributions: you could benefit from employer contributions too; the more you pay in, the more your employer may pay in.
- Investment choice: you have a range of investment options to choose from when deciding where to invest your money. Like many investments, the value of your pot can go down as well as up so you might get back less than you put in.
- Manage online: you can manage your workplace pension online to see how much money you have in your pot, how your investments are doing and what you could get when you take your benefits.
- Access from 55: currently, from age 55, you have the freedom and choice to decide how and when you take your pot although you may need to transfer to another pension for some of the choices available.
Your workplace pension comes from a trusted provider. Prudential is the pension provider chosen for you by your employer. Prudential has been helping people save money for over 165 years. Prudential works alongside the Independent Governance Committee (IGC) to ensure Prudential is always acting in your best interests.