Private and old style public sector pensions are different.
With a private pension pot you can chose to take up to 25% tax free out as a lump sum. The balance can be invested in an annuity or the capital simply drawn down.
Annuities pay ~4-7% (varies - single life, a couple, increases over time, health, age at start etc). Draw down risks running out of money if you live too long or investments fail to perform.
A (say) £400k "pot" would allow drawdown of up to £100k and an annuity of ~£15k pa. For someone on a fairly modest income, accumulating £400k would be challenging.
Public sector pensions until fairly recently were often final salary schemes increasing annually with inflation. Some older private sector schemes would be similar. Benefits would typically be based on years of contribution at 1/60th or 1/80th.
These have become unaffordable and closed to new entrants years ago. Many will allow withdrawal of a 25% lump sum, and as the government is backing the monthly pension payment it is probably as secure as one can get.
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