Creating Wealth, Making Money, Investing Wisely, Pensions

Personal pensions were introduced in 1988.  They were designed to provide people that were not part of a company scheme with the opportunity to save and to have their own pension that was portable.  They were designed on a money purchase basis.  Since 2001, individuals legislation means individuals can have both a company scheme and personal schemes.  Essentially, the government is trying to encourage saving as much as possible and so have allowed multiple forms of pension.