There are several different types of pensions which can suit whatever your wants and needs.
Final salary pensions, also known as defined benefit schemes, are largely funded by employers, though staff may also pay into them.
These pension schemes are often used within public service professions.
Money purchase pensions, also known as defined contribution schemes, are most often used as workplace and personal pensions.
The money you put into your pension plan is invested and what you have at retirement depends on how those investments have performed.
You can also save in the following pensions: workplace, trust-based, group personal, stakeholder and self-invested personal pensions (Sipps).