Company pensions are not the only way to reach your pension target. You can also invest money in a private pension (sometimes called a personal pension) at the same time and, although the Company won’t make any contributions, you do still get tax savings from the government.

Many banks and insurance companies offer pension arrangements. If you would like to find one, you could look in your telephone directory or try searching the internet. You might want to consider using a financial adviser to do the leg-work for you and investigate what solutions might be best for your circumstances. Financial advisers will either work for commission from the companies whose products they sell or they will charge a fee, in a similar way to a solicitor. Your local telephone directory or the internet will also help you to find a financial adviser in your area.

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© BOC Pension Services and AHC Ltd 2012.