The following Personal Tax guidance note by Tolley provides comprehensive and up to date tax information covering:
A private pension is a generic term which covers any pension scheme other than the state pension. The most common types of private pension are:
Private pension arrangements fall into two categories: defined contribution and defined benefit, as explained below.
For information on the state pension, see the State pension guidance note. For details of pensions paid by foreign payers, see the Foreign pension income guidance note.
Defined contribution pension schemes (also known as money purchase schemes) are schemes where the pension benefits paid out are dependent on the contributions paid and the growth in the value of the pension fund over the period between paying the contributions and taking the pension. All non-occupational schemes are defined
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