You can make single contributions into your account at any time. So if you find yourself with spare cash, you could add it to your account. You can also make regular additional voluntary contributions into your account, as long as the trustees agree.
You can transfer retirement savings from other pension plans. This could make it easier for you to keep track of them.
Transfer payments from one pension plan to another don’t receive tax relief. Transferring may not be in your best interests as you could lose valuable benefits which can’t be replaced. You should speak to a financial adviser before you make a decision.
Investing your retirement savings
Your retirement savings are locked away until you reach age 55 and invested to help them grow.
And the longer your money’s invested, the more time it has to grow. So the earlier you start saving, the better off you could be.
Of course, this isn’t guaranteed. So if your investments perform poorly, you could get back less than you started with.
Your retirement options
If the trustees agree, you can access your retirement savings when you reach age 55 – even if you’re still working. And you’ll normally have three main ways to enjoy the money you’ve saved – buy a secure income, dip in when it suits you or take it all as cash. You can also normally take up to a quarter of your retirement savings completely tax free.
Find out more about your retirement options.
Keeping track of your retirement savings
Access your plan details with our secure online service. It’s really simple to use and you’ll be up and running in no time.
Find out more
If your employer’s providing you with a company pension, they’ll give you access to a pension website. Your pension website is designed to give you more information about the company pension plan and the benefits of saving for your retirement.
Please contact your employer for more information.