Compare UK Pension Types
Every UK pension type at a glance — annual allowance, access age, tax-free lump sum, employer-match minimums, and FSCS protection. Data sourced from DWP, HMRC, MoneyHelper, and the FCA Register. Last reviewed 2026-06-05.
| Wrapper | Annual Allowance | Min access age | Tax-free lump sum | Employer min | FSCS |
|---|---|---|---|---|---|
| New State Pension | — | 66 | — | — | No |
| Workplace Defined Contribution pension | £60,000 | 55 | 25% | 3% | Yes |
| Workplace Defined Benefit pension | £60,000 | 55 | 25% | — | Yes |
| Self-Invested Personal Pension | £60,000 | 55 | 25% | — | Yes |
| Stakeholder Pension | £60,000 | 55 | 25% | — | Yes |
Best-for / not-for
New State Pension
Best for: Everyone reaching State Pension age from 6 April 2016. Foundation income.
Not for: Sole retirement plan — full new SP is below relative poverty line for many.
Source: www.gov.uk · last reviewed 2026-05-20
Workplace Defined Contribution pension
Best for: Anyone in PAYE employment. Auto-enrolment + employer match is highest-ROI savings vehicle in the UK.
Not for: Money needed before age 55 (rising to 57 from 2028).
Source: www.gov.uk · last reviewed 2026-05-20
Workplace Defined Benefit pension
Best for: Members of NHS, Teachers, USS, LGPS, Civil Service and other DB schemes. Inflation-linked income for life.
Not for: Most private-sector workers since the 2000s — DB largely closed to new accruals outside the public sector.
Source: www.gov.uk · last reviewed 2026-05-20
Self-Invested Personal Pension
Best for: Self-employed, higher-earners topping up workplace, consolidators of multiple old workplace pots.
Not for: New savers who have not maxed employer match in workplace DC.
Source: www.fca.org.uk · last reviewed 2026-05-20
Stakeholder Pension
Best for: Capped-charge personal pension — narrowed niche since auto-enrolment.
Not for: Most savers — workplace DC pots with employer match dominate.
Source: www.gov.uk · last reviewed 2026-05-20