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A 401 (k) retirement plan does not exactly exist in the UK. In the U.S., an employer sponsored plan exists where contributions are paid by an employee and sometimes by an employer where there is a fund that is invested in financial assets. This is a kind of contribution plan where withdrawals happen after a person turns sixty, at any time and at any amount. In the UK, it is not a plan that you would pay into. You can take out a pension plan with a private company and you would pay a contribution and your employer would pay a percentage and when you turn sixty, you will be paid every week or month from that fund.

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Q: Can I get a 401 (k) retirement plan in the UK?
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