pension

Was DWP wrong on reader's state pension claim? | Money blog

2026-04-11 04:30:00 UTC

You get the keys to your pension — then they change the locks

2026-04-10 08:30:00 UTC

George Osborne’s pension freedoms were celebrated when they were announced in 2015. Now those freedoms are disappearing through taxes, one budget at a time

'Worrying': Britons withdrawing pension lump sums early amid tax fears

2026-04-10 08:30:00 UTC

One year until the pensions death tax: how to protect your life savings

2026-04-10 08:30:00 UTC

A pension (/ˈpɛnʃən/; from Latin pensiō 'payment') is a fund into which amounts are paid regularly during an individual's working career, and from which periodic payments are made to support the person's retirement from work. A pension may be either a "defined benefit plan", where defined periodic payments are made in retirement and the contributions to the pension are adjusted to support these defined retirement payments, or a "defined contribution plan", under which defined amounts are paid in during working life, and the retirement payments are whatever can be afforded from the fund.

Pensions should not be confused with severance pay; the former is usually paid in regular amounts for life after retirement, while the latter is typically paid as a fixed amount after involuntary termination of employment before retirement.