A workplace pension, also known as a company pension or an employer-sponsored pension, is a retirement savings plan that is sponsored by an employer. These plans provide a way for employees to save for retirement through automatic payroll deductions, which are often matched, at least in part, by the employer.

There are several types of workplace pensions, including:

• Defined benefit pensions: These plans promise a certain level of retirement income based on an employee's salary and length of service. The benefits are usually calculated by a formula and the risk of the plan is with the employer
• Defined contribution pensions: These plans determine the retirement income by the contributions made by the employee and the employer and the returns on the investments. The risk is with the employee.
• Automatic enrollment pension scheme, also known as a workplace pension scheme, all eligible workers will be automatically enrolled into a pension scheme unless they choose to opt-out

Workplace pensions are designed to help employees save for retirement, by making it easier for them to set aside money for their future. Employers have a legal duty to provide a workplace pension scheme and to contribute to it. This can help employees to build up a retirement nest egg and ensure that they will have a source of income in retirement.

It's important to note that the regulations, the type of plan, the contributions, and the benefits can vary depending on the country and the laws and regulations. It's essential for an employee to understand the details of the plan, and the regulations, and to consult with a financial advisor or a pension specialist if necessary.