Guide · Retirement
Pension types explained
The State Pension, defined benefit (final salary) and defined contribution pensions work differently.
The State Pension depends on your National Insurance record and starts at State Pension age.
Defined benefit pensions pay a set income. Defined contribution pensions are a pot you draw from.
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Related guides
Sources
- GOV.UK: Pension types(opens in a new tab)
- GOV.UK: Check your State Pension forecast(opens in a new tab)
- GOV.UK: Find pension contact details(opens in a new tab)
These sources haven’t had a dated review recorded for this guide yet. Rules can change, so check the linked pages.
FLYNQD provides planning illustrations and general information, not personalised financial advice. Forecasts depend on the figures and assumptions used.