Occupational pensions
Many employers provide occupational pension schemes. If you are an employee and you can join an occupational pension scheme, you will normally be better off doing so. Most employers who run occupational pension schemes contribute to the scheme themselves. Some employers run occupational pension schemes where you don’t have to pay any money at all.
Occupational pension schemes often provide extra benefits, for example:
- a pension to your husband or wife when you die (and sometimes to your partner if you are not married); or
- a pension if you become ill and have to retire early.
Occupational pensions are usually very good value, so if your employer runs an occupational pension scheme, check it out carefully before you look into any other options.
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