Defined Contribution (DC) pensions

A Defined Contribution (DC) pension is a retirement savings plan where both you and your employer contribute a set amount regularly into your personal retirement account. The final amount you retire with depends on how much is contributed and how well your investments perform over time. You control how your money is invested, and the funds grow tax-advantaged until retirement. When you retire, the savings are used to provide income, but the total amount isn't guaranteed and varies based on investment performance. It's a way to build your retirement fund through ongoing contributions and investment growth.