Defined Contribution Pensions

A Defined Contribution Pension is a retirement savings plan where you, and sometimes your employer, contribute a set amount or percentage of your earnings regularly. This money is invested over time across various assets like stocks and bonds. The amount you eventually receive when you retire depends on the total contributions made and the investment performance. Unlike guaranteed pension schemes, the value can fluctuate, but it offers flexibility and control over your retirement savings. Ultimately, it’s a way to build a personal pension pot that grows with your ongoing contributions and investment returns.