Saving enough for retirement, and reaching your financial goals to provide the retirement life-style you want could require careful financial planning. Private pensions, often referred to as ‘personal pensions’, could help supplement the amount you’ll receive from the State Pension. Generally ‘defined contribution’ plans means any payments you make are invested.
The amount you end up with at retirement depends not only on how much you’ve paid in, but also on how your investments have performed and the level of charges. Seeking professional financial advice could help you to decide if you are making the most of your pension savings for retirement.