UKGIC | UK Immigration Consultants

retirement age couple looking at pension forms
Economy,Life in the UK,Relocation

Demystifying UK Pensions: How Do Pensions Work for New Citizens?

Pensions in the UK are retirement plans that provide income. State pensions are from the government and depend on worker contributions. Private pensions, started by individuals or provided by employers, can be defined contribution (DC) or defined benefit (DB). DC pensions grow with investments and the amount withdrawn depends on contributions and returns. DB pensions provide a promised income based on salary and length of service. Planning for a pension is crucial for retirement in the UK.

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