pension services

Company Pensions

Many companies offer a pension scheme to their employees. There are numerous different types available and usually the company will put some money into your pension if you decide to join. It is important that you take into account your existing pension provision, or that from your previous employer before making any decisions.

Your financial adviser will be able to explain the features of your company's arrangements, and may be able to assist you to select the right investment funds for your own needs.

Personal and Stakeholder Pensions

Personal Pensions represent a popular and attractive way of saving for your retirement.

All monies invested into your fund grow free of capital gains tax, and the contributions you make are enhanced by income tax relief at source. For example if you invest £80, the government adds on tax relief (currently 20%) to enhance your contribution to £100! If you are a higher rate taxpayer you can claim additional relief through your pay coding. A personal pension is an arrangement made in your name over which you have personal control.

You can alter your contributions, suspend them, or stop them completely.

You will be eligible to take 25% of your accumulated fund tax-free when you retire, from age 50 rising to age 55 by 2010. There are a range of options when you decide to take benefits whether before or after age 75.

Personal Pensions usually offer a range of investment mediums to suit your attitudes, and you can change your investment at any time.

Stakeholder pensions are similar to personal pensions but have their charges capped at 1.5% for the first 10 years reducing to 1% thereafter. Whilst Stakeholders are generally considered a little cheaper than Personal Pensions, investment choices may be restricted.