Pensions guide: the different types of pensions you need to know about

Our pensions guide explains the different ways you can save for your retirement

Man inserting coins in a pension pot
(Image credit: Getty Images)

It is getting more expensive to retire so a pension can be crucial to help put money aside so you can afford your golden years.

A pension is designed to support you and provide income when you retire so you can maintain the standard of living you had pre-retirement – or even enjoy a better one.That is becoming more of a challenge with stubborn inflation and bills rising, which has put the typical cost of a comfortable retirement at £43,900 per year, according to the Pensions and Lifetime Savings Association.

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Marc Shoffman
Contributing editor

Marc Shoffman is an award-winning freelance journalist specialising in business, personal finance and property. His work has appeared in print and online publications ranging from FT Business to The Times, Mail on Sunday and the i newspaper. He also co-presents the In For A Penny financial planning podcast.