A pension means different things to different people, but it is generally regarded as a plan in which you save for your retirement, which when you come to retire will have accumulated a value and will then provide you with a benefit. These days there is increased flexibility with pensions, for example, you can work and receive pension benefits if you are over 55 if you choose to, and you can choose how and when you access the money you have saved in personal pensions (depending on the rules of the pension schemes you are a member of).
Our Personal Pension is flexible and simple. You simply pay into the plan, and your money is then invested to provide you with a pension 'pot' (fund value). You may then use this pot of money to take benefits.
So, whether it is as your sole vehicle for preparing for retirement or you simply want to supplement your workplace or state pension, the Wesleyan Personal Pension can provide a solution. The sooner you start planning for the future, the more opportunity you have to build up the funds you'll need to enjoy the life you want. We've developed our Personal Pension as ways to build up your pension fund, by taking advantage of the many tax privileges available to plans of this kind.
For more information about the Wesleyan Personal Pension please read the Key Features Document.
Remember that the value of your investments can go down as well as up and you may not receive back what you put in. Tax treatment depends on individual circumstances and can change in the future.