UK Pensions
Wood UK pensions home page
Pensions can seem complex but they’re just a tax-efficient way of saving for retirement. Most people will get at least some, if not the full State Pension but this won’t be enough for a comfortable retirement which is why it’s a good idea to save into a workplace pension too.
What is a Defined Contribution (DC) pension scheme?
A DC scheme is a type of retirement plan in which the employer and the employee make contributions on a regular basis. Individual accounts are set up for participants and benefits are based on the amounts credited to these accounts plus any investment earnings on the money in the account.
The links below will help you find details on your DC pension pot within Wood, make decisions on how much to save, and a guidance on what to if you need to change your details or contributions.
