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Pension pot
01
the total accumulated savings set aside for retirement
Example
After years of diligent saving, John's pension pot had grown significantly, providing him with a substantial income during retirement.
The financial advisor recommended diversifying investments within the pension pot to minimize risk and maximize returns.
As retirement approached, Sarah began contributing more to her pension pot to ensure a comfortable lifestyle in her later years.
The government introduced reforms to encourage individuals to save more for retirement, including tax incentives for contributions to their pension pot.
Upon reaching retirement age, individuals can choose to withdraw a lump sum or receive regular payments from their pension pot to support their living expenses.
