
Starting your own pension helps you make the most of the money you put away for your retirement. So when you finish working, you get to enjoy the kind of lifestyle you have always dreamed about.
Why you need a pension
Life expectancy is going up. So there is a strong chance that you will be fit and active well into your 80’s and beyond. That’s a good thing, isn’t it? But on the other hand, over 20 years is a long time to be around and not earning an income.
Most of us will qualify for the State Pension but that won’t do any more than cover your basic expenses.
This is where your own privately funded pension comes in. It ensures you have enough income in retirement, whether you want to enjoy your hobbies, go back to college, or even take off on that round the world trip you have always dreamed of.
Do you have a pension already?
No
Don’t worry – it is never too late to start. The good news is that the earlier you begin paying into your pension, the less you will need to pay on a monthly basis. Our Introduction to Pensions guide will help you to get started and Choosing your Pension will help you to identify the right plan for you.
Yes
If you have a pension, but you would like to make it work harder, our pension plans give you a range of options to help you plan for your future.
If you are fortunate to be a member of a pension scheme set up by your employer, you may want to supplement this by also making your own contributions. These are known as Additional Voluntary Contributions and are a tax efficient way of making sure there is a bigger retirement fund available for you when you stop working.
We understand that starting your pension is an important decision. But the good thing is that it is really easy to get started and you don’t have to do it all on your own.
Deciding how much you need
Your pension is about more than just setting a financial target for your retirement – it is also about how you reach that target.
Our advice? Talk to your Financial Broker. They can help you develop your pension strategy so that at every stage of your journey, you’re paying what you can afford and getting the full benefits of the tax relief available.
In the meantime, our handy Pensions Calculator can give you an idea of how much you need to start putting away for your retirement.
Your next steps
Paying into your pension
You decide how much to pay into your pension. That figure can go up or down depending on what you can afford. You can even take a break from paying if you need to. Or if you come into some money, you can make a lump sum payment to your pension fund.
Choosing your investments
Your pension is a big investment and every investment comes with some risk. However what one investor takes in their stride will make another nervous. So at Friends First, we have a range of over 40 investment funds that cater to different levels of investment risk.
Learn more about Investing your Pension or use our Investment Suitability Tool to help you figure out your attitude to risk.
Talk to your Financial Broker
Whether you are setting up a pension for the first time, or thinking about moving your existing pension to Friends First, talk to your Financial Broker and get some expert advice on how best to save for your future.
Pension
Why Friends First?

We have a proven track record of offering innovative investment solutions from established fund managers