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Resources for Christian Workers - A Guide to UK Pensions

We are constantly reminded that we live with a demographic time bomb. The UK population is ageing, exposing us to a raft of far reaching consequences not least being the provision of universal and adequate pensions. For many people, including Christian workers who have spent much of their lives in active ministry either in the UK or abroad, pension provision is, or will become, the overriding financial consideration of later life.

This briefing paper examines the three main types of pension provision in the UK:

  • State pensions; where income in retirement is paid to the pensioner by the UK government, universally available but dependent upon individual National Insurance contributions.
  • Organisational or occupational pensions; where income in retirement is paid to the pensioner by an employer in accordance with the rules of schemes
  • Personal or private pensions; where income in retirement is paid to the pensioner by a pension provider in accordance with the rules of the scheme