Buying A Pension May 2026

: You contribute funds during your working years, and the payouts begin at a later date, usually after retirement.

This involves paying regular premiums or a lump sum to build a retirement "pot" over time. buying a pension

If you already have a pension pot, you can "buy a pension" by converting that lump sum into a guaranteed regular income for life. When should you kick-start a pension plan? : You contribute funds during your working years,