The benefit of pensions

Pensions are packed with features that are designed to boost how much money you have in your pot. And, ultimately, more money means you get to do more of the things you want to do, especially when it’s time to wave goodbye to the 9 to 5.

Employer contributions

Auto-enrolment legislation means that, as long as you are eligible, your employer must offer you a workplace pension and contribute to it a minimum amount. From April 6th 2019, this minimum amount is 3% of your gross salary, with you contributing a further 5% (which you’ll get tax relief on). This is effectively a guaranteed monthly bonus from your employer, which is why workplace pensions can be so valuable.

Read more

Compound interest

Albert Einstein called compound interest the “eighth wonder of the world.” Who are we to argue? And your pension amplifies the effects of compound interest because of the tax relief, tax breaks and other contributions you might be receiving. Plus, the sooner you start saving into your pension, the bigger the snowball effect. Ultimately, that means more money for you!

Read more

Death benefits

When you die, providing your pension allows, a variety of benefits will become available to your beneficiary. These benefits will depend on the type of pension you hold, whether you die before or after 75, and whether you have started to take money from your pension be it a lump sum or regular payments. Your beneficiary also needs to take it within two years of the pension being left to them. And, there’s tax implications they will need to be aware of.

Share this

Thinking about your pension options?

We can help you to make the best possible decisions when it comes to your pension.

The details provided in this article are for general information only and are in no way deemed to be financial advice. All of the material is correct as of the publication date, but could be out-of-date by the time you read the article.
0800 009 3388
Mon-Fri 9am-5pm


Pension Access is a trading name of Harbour Rock Capital Limited which is registered in England & Wales as a Limited Company, No. 10290349. Authorised and regulated by the Financial Conduct Authority, No. 754580. Registered Offices: Affinity House, Beaufort Court, Sir Thomas Longley Road, Rochester, Kent, ME2 4FD. Telephone: 0800 009 3388. Email:
© 2024 Pension Access. All right reserved.
What's in your info pack?
Your FREE information pack contains all the information you need to make an informed decision on wheter or not taking tax free cash from your pension is right for you.
Get your Free Info Pack
Complete the form and we'll send you an information pack in the post
Note: We are unable to advise on the state pension or any pension you are already taking an income from.

    Get your free info pack

    Where should we send your info pack?

    Please complete your details below and we'll send your information pack in the next available post

    Find Your address

    Type in your postcode or start typing your address then select from the drop-down list

    Your address

    We'll post your information pack here

    Keeping in touch

    We'll send you updates by email or text message. One of our specialists may call, just in case you have any questions about your pension. We’re big believers in never bombarding people with calls.

    Safety PadlockYour information is safe with us. Our calls are recorded for regulatory, legal and training requirements. Please see our privacy notice for information on our data practices here


    Hands using calculator to calculate home equity amount