A pension is a retirement account that an employer maintains to give you a fixed payout when you retire. It's a kind of defined benefit plan. Your payout typically depends on how long you worked ...

The Retirement Reddit group shares insights in a post from a retiree who wants help with deciding on a lump sum or a monthly ...

If you have a defined contribution scheme – the most common pension type in the private sector – you can take a quarter (25pc) of your pension pot tax-free. Pensions that haven’t yet had tax ...

The specifics of what happens to your pension are contingent on the type of pension plan you hold and its particular terms ...

Not very. The percentage of workers in the private sector whose only retirement account is a defined benefit pension plan is now 4%, down from 60% in the early 1980s. About 14% of companies offer ...

If you could not find another investment vehicle that can provide you that type of ongoing monthly income, then you could have a great option by taking the pension payout each month for life.

Now, if you choose to purchase the insurance outside of the pension system, it is critical that the type of policy you purchase and the amount of insurance obtained are in alignment with what you ...

This type of pension is different from both a workplace pension and a private pension. Rather than building up a pot of savings, you can claim payments from the Government once you reach state ...