When you stop working you will no longer receive a salary and you normally won’t receive state benefits until you are at least 65.

Although you have made a good start by saving with your company pension - have you thought about whether this alone will be sufficient to support the lifestyle you want in retirement?

Topping up your company pension offers you a simple, tax efficient way to save for your retirement. You simply make payments while you are working, then when you retire, any money held in your pension fund provides you with a taxable income for the rest of your life.

Will the Basic State Pension provide enough? You decide: £97.65 a week for a single person. For the tax year 2010/2011.

The amount shown above is the maximum basic state pension a single person is entitled to, but not everyone may be entitled to the full amount. You may also be entitled to an earnings related state pension. In addition you may be entitled to Pension Credit. This depends on the level of your income in retirement and the amount of any savings you have. If you need to know about your state entitlement, visit www.thepensionservice.gov.uk

Note: Any links to external websites is outside Standard Life's website and will open in a new window. Standard Life is not responsible for the content of external internet sites.

With a top-up pension, your money could go even further. Every payment you make is entitled to tax relief. The following pages will explain the benefits in more detail and help you with the decisions you need to make when planning your retirement with a pension. Your pension is taxed as earned income at retirement.

Notes:

• Tax and legislation are likely to change.
• Tax relief may alter and its value depends on your financial circumstances.
• The information given here is based on Standard Life's current understanding of law and HM Revenue & Customs practice.