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A defined contribution pension is a pot of money built up from contributions made by you and/or your employer.
In contrast, a defined benefit pension provides a guaranteed income in retirement, based on your salary and years of service. Because of these benefits, transferring a defined benefit pension is often not a sensible idea.
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When investing, your capital is at risk. The value of your investments can go down as well as up, so you may get back less than you put in. Tax treatment depends on your individual circumstances, and could change in the future. You should seek financial advice if you are unsure about investing.
You are covered by the Financial Services Compensation Scheme (FSCS) up to £85,000 (subject to eligibility).
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