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Sometimes known as defined contribution or 'money purchase' pensions, you'll usually get a pension that's based on how much was paid in.
![Older couple collecting money in a piggy bank](https://cdn.prod.website-files.com/634d30076f3e43c84aaac6a6/63593e8ba145031e4009db8b_pensions.jpg)
Alternative pension types are self-invested personal pension (SIPP) and 'small self administered scheme' (SSAS) pensions.
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Occupational Pensions and Auto Enrolment are both types of pension schemes provided by your employer.
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You can use all or part of your pension pot to buy a guaranteed retirement income, also known as an annuity.
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Pension drawdown is a way of using your pension pot to provide you with a regular retirement income by reinvesting it in funds specifically designed for this purpose.
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Your retirement fund is an asset, so you need to consider and understand what will happen when you die..
Auto Enrolment is not regulated by the financial conduct authority.