ALL PENSIONS — PENSION TERMINOLOGY CHEAT SHEET
Reference generated: 2026-11-07

DEFINED CONTRIBUTION
A pension that builds an invested pot, with a value that can change.
Full glossary path: /glossary/defined-contribution
Definition checked: 2026-10-03
MoneyHelper: Defined contribution pension schemes (checked 2026-10-04): https://www.moneyhelper.org.uk/en/pensions-and-retirement/pensions-basics/defined-contribution-pension-schemes

DEFINED BENEFIT
A pension that calculates retirement income using its scheme rules.
Full glossary path: /glossary/defined-benefit
Definition checked: 2026-10-03
GOV.UK: Types of private pensions (checked 2026-10-04): https://www.gov.uk/pension-types

WORKPLACE PENSION
A pension arranged through an employer; the arrangement may build an invested pot or benefits under scheme rules.
Full glossary path: /glossary/workplace-pension
Definition checked: 2026-10-04
GOV.UK: About workplace pensions (checked 2026-10-04): https://www.gov.uk/workplace-pensions

PERSONAL PENSION
A pension arrangement usually building an invested pot, which may be arranged individually or used through an employer.
Full glossary path: /glossary/personal-pension
Definition checked: 2026-10-04
GOV.UK: Personal pensions (checked 2026-10-04): https://www.gov.uk/personal-pensions-your-rights

STATE PENSION
Government retirement income linked to National Insurance history and applicable rules, separate from private pension pots.
Full glossary path: /glossary/state-pension
Definition checked: 2026-10-04
GOV.UK: New State Pension eligibility (checked 2026-10-04): https://www.gov.uk/new-state-pension

SIPP
A self-invested personal pension: a defined contribution arrangement with investment choices that depend on the provider.
Full glossary path: /glossary/sipp
Definition checked: 2026-10-04
MoneyHelper: SIPPs explained (checked 2026-10-04): https://www.moneyhelper.org.uk/en/pensions-and-retirement/pensions-basics/self-invested-personal-pensions

ANNUITY
A way of using pension money to buy income, with the duration and features set by the contract.
Full glossary path: /glossary/annuity
Definition checked: 2026-10-04
MoneyHelper: Annuities explained (checked 2026-10-04): https://www.moneyhelper.org.uk/en/pensions-and-retirement/taking-your-pension/guaranteed-retirement-income-annuities-explained

PENSION DRAWDOWN
A way of taking money from a defined contribution pension while the remaining pension stays invested.
Full glossary path: /glossary/pension-drawdown
Definition checked: 2026-10-04
MoneyHelper: Pension drawdown explained (checked 2026-10-04): https://www.moneyhelper.org.uk/en/pensions-and-retirement/taking-your-pension/what-is-flexible-retirement-income-pension-drawdown

PENSION SCHEME
The pension arrangement whose rules and records apply to members.
Full glossary path: /glossary/pension-scheme
Definition checked: 2026-10-03
GOV.UK: Types of private pensions (checked 2026-10-04): https://www.gov.uk/pension-types

PENSION PROVIDER
The organisation named as provider for a pension arrangement; use the scheme paperwork to identify the right contact for your record.
Full glossary path: /glossary/pension-provider
Definition checked: 2026-10-04
MoneyHelper: How to find old or lost pensions (checked 2026-10-04): https://www.moneyhelper.org.uk/en/pensions-and-retirement/pension-problems/tracing-and-finding-lost-pensions

PENSION STATEMENT
A dated document describing information about your pension.
Full glossary path: /glossary/pension-statement
Definition checked: 2026-10-03
MoneyHelper: How to find old or lost pensions (checked 2026-10-04): https://www.moneyhelper.org.uk/en/pensions-and-retirement/pension-problems/tracing-and-finding-lost-pensions

MEMBER REFERENCE
A reference a scheme uses to identify a member record; keep it with the relevant scheme rather than treating it as a value or entitlement.
Full glossary path: /glossary/member-reference
Definition checked: 2026-10-04
Nest: Member ID explained (checked 2026-10-04): https://www.nestpensions.org.uk/schemeweb/memberhelpcentre/log-in-for-the-first-time/whats-nest-id.html

A short reference, not a complete description of scheme rules or a recommendation to choose, transfer or access a pension. Read the linked glossary and ask your scheme about your own record. General information, not financial advice.