• Basic pension system
• When can I retire?
• State pension
• Company pension
• Private pension
• Self invested personal pension
• Planning a retirement
• State second pension
• Pension in case of divorce
• Stakeholder pension

There are two types of national pension schemes in the United Kingdom, which are supported by the state, the Personal Pension and the Self Invested Personal Pension (SIPP). The support usually includes tax advantages and other sort of benefits which make investing profitable.

The main advantage of these personal pension plans is that you can decide how the investments should be done and what kind of assets do you want to invest in. Furthermore it gives you the option to invest into real estate or shares, which is a great possibility to invrease the amount of return and therefore raise your final pension.

However, the possibility to receive higher gains has its price, a self invested personal pension usually comes with higher fees and additional expenses than a regular pension fund, which might balance the higher profits in case a relatively small fund. It is recommended, in case of individuals with large funds, to take advantage of this option, because higher profits might offset higher fees and even and on the top of it, it might get you a decent profit.

Before starting to look for a fund we recommend to check the official list of providers in this programme in order to avoid future inconveniences.