In detail

Our Personal Pension plan is a flexible and tax-efficient way to build up the pension 'pot' you will need, to provide you with an income when you retire. It offers a wide range of funds, from which you and your Financial Adviser can select the ones which best suit your needs. It can also grow and change with you, allowing you to change payments, or the funds your pension plan is invested in.

In fact, almost anyone can have one (provided you are a UK resident) even if you're already a member of an employer's scheme. Minimum payments apply.

Our Pension decision maker could help you decide if a Personal Pension is suited to your needs.

To help you understand how pensions work - including Personal Pensions, we've created a useful Beginner's guide.

Written in straightforward, jargon-free language, it will explain why you need to prepare for the future; what you might get from the State Pension; and what your options are.

Most private pensions have annual charges (and sometimes initial set-up charges) to pay for the management of the pension funds your money is invested in. Depending on how you choose to invest your money, there's a wide range of annual charges. Further details about charges can be found in the Key Features. There are no separate set-up charges.

What you get back from your pension plan will largely depend on what you put in and how long you keep making payments. However there are many other factors that will influence what income you will receive at Retirement. Factors such as investment performance, interest rates and life expectancy to name but a few. For further information on these influencing factors please see the Key Features.

You can choose when you take benefits - currently anytime from your 50th birthday. From April 2010, the earliest age you can take benefits will increase to age 55. Once you've decided how much income you think you'll need and when you want to take it, you can work out how much you would need to save to reach your retirement goal.

Use our simple Pension calculator to plan your retirement.

Once you've started your plan, you can check how your pension pot is doing online. We'll also send you annual updates of your pension plan value along with an illustration of what you may get at retirement if certain assumptions are met. Also, because you will have chosen the funds your money is invested in, you can check those fund prices every day, if you wish.

If you have more questions about Personal Pensions, our FAQs may help to answer them.

If not, please Contact us.