The aim of a pension plan is to provide income in retirement, but that is not all it can offer.
Most plans also provide life assurance and an income for your dependants if you die which is available at little or no extra cost.
Depending on which company you work for, you may even be able to get income protection cover if you fall ill or have an accident by joining the company pension plan.
When you retire you will be given the chance to give up part of your pension for tax-free cash.
Sometimes the most obvious, but often overlooked, feature of a company plan is the money the company will be paying in on your behalf. If you don't join your company plan you are really giving up free money!