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Can I have a Personal Pension and a Workplace Pension?

Yes, you can have a Personal Pension and a Workplace Pension. Having both can allow for more control and flexibility when saving for your future. However, it’s important to remember that your pension annual allowance applies across all pensions you hold. Personal Pensions allow you to put money aside now to use later in life. You can also manage your withdrawals as best suits your lifestyle – this could mean withdrawing a monthly income to replace your salary, taking a lump sum, or a mixture of the two.

With investing your capital is at risk. Investments can fluctuate in value, and you may get back less than you invest. Pension eligibility applies.

If you need more information or have any further question, and you are not already a client with True Potential, you can speak to our friendly team on 0191 625 0350 available 7am-8pm weekdays.