Self-invested personal pension (SIPP)
You might also decide to use a SIPP, which allows you to decide how much you want to invest and when. In compariosn to the state pension, you will normally be able to make withdrawals from a SIPP when you reach age 55.
Also, the government (HMRC) will give you 20% tax relief on anything you pay in (up to a specific limit, and depending on your circumstances).
SIPPs give you the opportunity to invest in a range of investments, including mutual funds, shares, cash, exchange traded funds (ETFs) or investment trusts.
With all this choice, you may appreciate our guidance service to help you choose investments, whether you’ve invested before, or you’re just starting out.
If you're unsure about the suitability of a pension or an investment you should seek advice from an authorised financial adviser.