Money purchase scheme

A money purchase scheme is what all private and stakeholder and some company pension schemes are. They are technically known as defined contribution pensions and you pay a monthly or annual amount to build up a pension pot.

In many cases in addition to the amount of money you put into the scheme you will also receive funds from your employer. However, not all companies who offer a money purchase pension scheme will pay contributions on your behalf.

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	Santander moves to reassure UK customers that money is safe Santander has admitted that some customers have been withdrawing funds but that its UK operations are separate to Banco Santander in Spain.