What it means
Income commonly depends on salary and service. Scheme rules determine the calculation; it is not simply the balance of an invested personal pot.
Sources: GOV.UK: Types of private pensions
An example
A fictional annual income estimate of £1,200 belongs in an income record. It cannot be added to an £18,000 pot as though both were balances.
Use it in your pension list
Keep the term beside the original source, rather than using it to fill a gap in your knowledge. If the scheme wording is different, save the wording and ask for clarification. An unknown field is easier to correct than a confident guess.
Sources & review
- GOV.UK: Types of private pensionsChecked 2026-10-04
Next scheduled review: 2027-04-03. Provider details can change sooner. Use the official website for the current contact route.
Suggest a correction