A private pension, also known as a personal pension, is a type of pension plan that is arranged and managed by an individual, rather than an employer. Unlike workplace pensions, private pensions are not tied to a specific employer and can be taken with you as you move between jobs.

Similar to workplace pensions, private pensions allow you to contribute money regularly into a pension pot, which is then invested to provide you with a retirement income. With a private pension, you have the flexibility to choose how much you want to contribute, how often and how the money in your pension pot is invested.

The value of your pension pot can fluctuate based on the performance of your investments, and it's important to understand that the value of investments can go down as well as up. It's also worth noting that, with a private pension, you are responsible for making the contributions and ensuring that your pension pot is adequately funded.

It's important to consider the type of private pension you opt for, as different private pension plans have different features and benefits, such as different investment options, fees and charges, and death benefits.