{"id":540,"date":"2010-01-11T10:45:38","date_gmt":"2010-01-11T09:45:38","guid":{"rendered":"http:\/\/esmartproducts.co.uk\/?p=540"},"modified":"2010-01-11T10:45:38","modified_gmt":"2010-01-11T09:45:38","slug":"types-of-pensions","status":"publish","type":"post","link":"https:\/\/www.suretyfp.com\/wordpress\/?p=540","title":{"rendered":"Types of pensions"},"content":{"rendered":"

Deciding on your options<\/strong><\/p>\n

There are three types of non-State pensions. Some are offered by employers and some you can start yourself. They are:
\n
\n– occupational final-salary related schemes \u2013 offered by some employers;<\/p>\n

– occupational defined contribution schemes (also called money purchase pensions) \u2013 offered by some employers; and<\/p>\n

– stakeholder pensions and personal pensions \u2013 offered by some employers, or you can start one yourself. You may also be offered a group personal pension at work. These are also money purchase pensions.<\/p>\n

If you work for a business employing fewer than five employees, your employer does not have to offer you access to a pension scheme. The government is planning changes that will mean all employers will have to offer and contribute to a pension in future.<\/p>\n

Employers who haven\u2019t offered a pension in the past may set up their own scheme, or may pay pension contributions into a new central scheme that is being set up. This is expected from 2012.<\/p>\n

Although you don\u2019t have to join any pension scheme offered through your employment, it\u2019s usually a good idea to join an occupational pension scheme if it\u2019s available because:<\/p>\n

– your employer normally contributes; and<\/p>\n

– often you also receive other benefits, such as life insurance which pays a lump sum and\/or pension to your dependants if you die while still in service, also;<\/p>\n

– a pension if you have to retire early because of ill-health; and<\/p>\n

– pensions for your spouse and other dependants when you die.<\/p>\n

Not all pensions offered by employers are occupational pensions. Your employer may offer a stakeholder pension or a personal pension through a group personal pension arrangement. These pensions are not called occupational pensions even though the employer may contribute.<\/p>\n","protected":false},"excerpt":{"rendered":"

Deciding on your options There are three types of non-State pensions. Some are offered by employers and some you can start yourself. They are:<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,4,1],"tags":[309,444],"_links":{"self":[{"href":"https:\/\/www.suretyfp.com\/wordpress\/index.php?rest_route=\/wp\/v2\/posts\/540"}],"collection":[{"href":"https:\/\/www.suretyfp.com\/wordpress\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.suretyfp.com\/wordpress\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.suretyfp.com\/wordpress\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.suretyfp.com\/wordpress\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=540"}],"version-history":[{"count":0,"href":"https:\/\/www.suretyfp.com\/wordpress\/index.php?rest_route=\/wp\/v2\/posts\/540\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.suretyfp.com\/wordpress\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=540"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.suretyfp.com\/wordpress\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=540"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.suretyfp.com\/wordpress\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=540"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}