A pension is a tax-efficient way of saving money for  retirement.

Long-term financial planning

Financial education

Work, income and deductions

Personal finance and economic citizenship

This unit explores income and deductions, financial responsibility as a citizen, and preparing for long-term financial stability.

Salaries and long term financial planning

Subjects which particular individuals may be sensitive to, eg, adoption, migration, bereavement or death, divorce, poverty, deprivation.

Depiction or discussion of sensitive content

A {{}} is a tax-efficient way of saving money for retirement.

If the 2024/2025 full pension rate is £221.20 per week, what is the amount received in 6 months?

True - claiming your pension means you can no longer work.

False - you can keep working after your state pension age is reached.

Everyone has to retire when they reach the age that they can claim their state pension.

From April 2019, the minimum total contribution to a workplace pension is:

From April 2019, the minimum total contribution to a workplace pension from your employer is:

From April 2019, the minimum total contribution to a workplace pension from you is:

A worker is paid an hourly rate of £35.70 and works 8 hours per day, five days a week. What is their weekly salary?

A worker is paid an hourly rate of £35.70 and works 8 hours per day, five days a week. If they worked for four weeks, what would their total income be?

A worker is paid an hourly rate of £35.70 and works 8 hours per day, five days a week. If they worked this every week for a year, what would their total income be?

A worker is paid an hourly rate of £35.70 and works 8 hours per day, five days a week. If they worked this every week, what would their total income be after 3 months?

A worker is paid an hourly rate of £35.70 and works 8 hours per day, five days a week. They pay 5% of their income into a savings account. How much is paid in each week?

A worker is paid an hourly rate of £35.70 and works 8 hours per day, five days a week. They pay 5% of their income into a savings account. How much is paid in each year?

This lesson was made for home learning during the pandemic.

Long-term financial planning

Lesson outcome

Content guidance

This lesson was made for home learning during the pandemic.