Saving for my retirement

Saving for your retirement is important – the earlier you start, the easier it’ll be.

How can I save?

There are now more ways than ever to save for your retirement. You can start a pension, open an ISA or even release equity on your home - the choice is yours.

Saving with a pension

A pension is a way of saving for your retirement. You get tax relief on the money you pay in, and an income back when you retire. You can usually take up to 25% of your pension savings as tax-free cash later in life.

There are three types of pension:

Workplace pension

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  • Payments can be made by both you and your employer (yours coming from your salary). Automatic enrolment for this pension started in 2012.
  • What you get back depends mainly on how much has been paid in and how your investments perform.

Individual pension

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  • You choose when to contribute, and how much to pay in.
  • What you get back depends mainly on how much has been paid in and how your investments perform.

State Pension

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  • The State Pension is provided by the government.
  • If you have paid enough National Insurance and have reached State Pension age, you may qualify.

Want to know more? Take a look at What is a pension?

The Aviva Pension

The Aviva Pension is a flexible way to save for your retirement. It’s an individual, self-invested pension, so you control where your money goes.

  • You get tax relief on your contributions.
  • You can pay in regularly, make one-off payments or both. What you get back is based on the amount of contributions, time invested, investment performance and charges.
  • From the age of 55, you can choose to withdraw money from your pension. Usually, 25% of your pension will be available tax free.
  • The value of your investments can go up and down, so you may get back less than what you paid in.
  • If you have more than one pension, your money may go further by bringing them together. Find out more about whether transferring your pension is right for you.

Why open an Aviva Pension?

  • Choose from a wide range of investment funds online.
  • Manage your account online 24/7.
  • Make payments to suit you. You can pay in from £50 a month, or a single payment of £5000.
  • Employer payments are accepted.
  • Voted Best for Beginners in 2016 by lang cat.
  • UK-based customer support.

Take control of your pensions

Make it easier to manage your pensions by putting them all in one place with Aviva. It’s simple for you to do and, as a thank you, we’ll give you cashback.

Terms & Conditions apply.

Find out more

Make sure you’re on track

Whether your retirement’s a long way off or just around the corner, having a clear idea of how to achieve your aims is important. Aviva’s simple online tools and calculators are here to help.

Other ways to fund your retirement

Pensions aren’t everything. There are other ways to support your retirement, such as ISAs and property.

Stocks & Shares ISA

Let your money grow over time, without paying income or capital gains tax​ on your returns.

See the Aviva Stocks & Shares ISA

Property

Over time your home could become more valuable, and help fund your future lifestyle. You could release equity, let out a room, or even downsize to help pay the bills.

The value of an investment is not guaranteed and can go up and down. You could get back less than what is invested.

Need some help?

Ask a question

There’s a lot to think about when planning your retirement. Take a look at our

Frequently Asked Questions.

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