Course description

Pensions can feel complicated, and it's easy to put off looking at them. This course explains UK pensions in plain English, step by step: the State Pension, workplace pensions and personal pensions, how tax relief works, how pension money is invested, how to work out what you might need, and the options for taking money from a pension pot.

You begin by gathering every pension you have into one picture and checking your State Pension forecast. Then you learn how automatic enrolment and contributions work, what opting out really costs, how to read statements, how charges add up and how to find lost pensions. Later sections cover planning in today's money, Pension Credit, annuities, drawdown, lump sums, tax, divorce, death, scams and working in retirement.

There are 10 sections and 50 written lessons. Each lesson has a worked example, common slips, questions people often ask and a short exercise to try, and each section ends with a short quiz. You follow Jerusha and Gamaliel, a made-up couple in Huddersfield, from an unopened pension statement to a full retirement planning review, slips included. In the final lessons you work through a project for two made-up people at different stages, with full worked answers. Every section has a practice pack with exercise sheets, answer keys and cheat sheets, plus a pension picture planner, a forecast and gaps sheet, a contributions calculator spreadsheet, a pension finder checklist, an options comparison sheet, a scam warning card, questions to take to Pension Wise and official services reference sheets.

What you'll learn

• How UK pensions fit together: the State Pension, workplace pensions and personal pensions, defined benefit and defined contribution, your pension picture and the free official services.
• The State Pension: qualifying years, State Pension age, your forecast and National Insurance record, credits, voluntary contributions, deferring and the triple lock.
• Workplace pensions: automatic enrolment, minimum contributions on qualifying earnings, what opting out really costs, salary sacrifice in general terms, changing jobs and protection.
• Defined benefit, personal pensions and the self-employed: reading statements, personal and stakeholder pensions, pensions when you work for yourself, and the questions to ask before any transfer.
• Tax relief and the allowances: net pay and relief at source, higher rate and Scottish relief, the annual allowance, the money purchase annual allowance and the tax-free part.
• How pension money is invested and keeping track: funds and risk, charges in pounds, default funds and lifestyling, finding lost pensions and a pensions file.
• Working out how much you might need: a retirement spending target, adding up income in today's money, inflation, closing a gap, the bridging years and Pension Credit.
• Taking money from a pension pot: the minimum pension age, annuities, drawdown, lump sums, small pots, mixing the options and tax on pension income.
• Life events, scams and working in retirement: divorce, death and nominations, the Inheritance Tax change due from April 2027, pension scams, checking a firm and phased retirement.
• Your retirement planning review: a yearly review routine, questions for Pension Wise and your provider, and a final project for two made-up people, with worked answers.

Who it's for

Working adults who want to understand their pensions, and people in their 50s and 60s planning for retirement. No knowledge of pensions or investing is needed, and a calculator and paper are enough.

What this course is, and isn't

This is education, not advice. It explains how pensions work and the general options, but it never recommends a product, provider, fund, share or annuity provider, and it never tells you whether to transfer, combine or take money out of a pension. It signposts free, impartial help from Pension Wise, MoneyHelper, the Pension Tracing Service, GOV.UK's State Pension forecast, the Pensions Ombudsman, The Pensions Regulator, the FCA register and the free debt advice charities. Official rules and figures come from GOV.UK and other official pages read on 2 November 2026; they change, often each April, so check before you rely on a detail. Every example figure is made up and labelled, and every person in the course is fictional.

What will I learn?

• Gather every pension you have into one pension picture, including your State Pension forecast
• Read your State Pension forecast and National Insurance record, and check credits before paying to fill a gap
• Work out workplace pension contributions on qualifying earnings and what opting out would give up
• Tell defined benefit and defined contribution pensions apart and read their statements
• Explain how tax relief, the annual allowance, the money purchase annual allowance and the tax-free part work
• Turn pension charges into pounds, understand default funds and find lost pensions with the free tracing service
• Set a retirement spending target in today's money and compare it with your likely income
• Describe the options for taking money from a pension pot, and how pension income is taxed, without being told what to choose
• Recognise pension scams, check a firm on the FCA register and know where to report
• Run a yearly retirement planning review and prepare questions for Pension Wise and your provider

Frequently asked questions