Will my company pension be enough?

With the state pension unlikely to deliver the retirement you deserve, most people will need to secure an additional source of retirement income.

Contributing to your employer's company scheme is one method to help you on the way to a more prosperous retirement. The benefits under some schemes can be significant, particularly if you are one of the lucky few with a final salary pension. Whether these provisions will actually meet your retirement needs, is something many people do not consider.

Many large companies are now struggling to meet their current and future commitments, and are unfortunately beginning to scale back the benefits under these schemes and reconsider their position. As a result, a company pension in isolation may not be enough.

It is now easier than ever to contribute to a personal pension in addition to your company pension and most people under the age of 75 are eligible. As it is separate to your company pension it will remain there for you to continue contributing to regardless of who your employer is and the future decisions they make.

Find out how much difference making additional contributions to a pension could make to retirement income using our Pension Calculator.