Pensions are a form of saving for retirement. When you retire, or reach a certain age, a pension scheme pays you a regular income for life. There are three types of pension State, personal, and company or occupational pension.The government encourages you to save towards your pension by giving tax relief on money you put into personal and company pensions schemes up to certain limits.Find information on how to release tax-free cash from your UK pension. Find independent and impartial advice to find the right option for your pension and retirement planning online.