The partnership pension account
The partnership pension account is a way of saving for your retirement. You
choose a ‘pension provider’ from our panel to invest your retirement funds.
Your employer will contribute for you to your chosen provider. We will hold
these contributions, together with any contributions you choose to make
within a stakeholder pension, which is a type of personal pension. The
contributions grow with investment returns over the years. When you retire,
you can take some of your pension ‘pot’ as a tax-free lump sum. You use the
rest of your pension pot to provide you with an income for the rest of your
life. This is called an annuity.
You can find more details on the partnership pension account under the
following headings below:
For further information, see the
‘partnership pension account’ booklet. If you are only eligible for
partnership, the booklet entitled
‘your partnership option’ will also provide useful information for you.
