Pensions

Planning for retirement is important for all of us. With average life expectancy increasing each year most of us can look forward to a long retirement. Yet with so many options available it is difficult to know where to start. Planning for retirement isn't just about saving into a pension. There are many other alternatives such as ISA's or other investments. Our job is to find the right solution for you. It's never too early to start, in fact many people now are saving into a Stakeholder Pension for children or grandchildren.

What is a Stakeholder Pension? Stakeholder pensions where launched by the government in April 2001 to encourage more people to save for their retirement. The aim is for them to be simple and easy to understand, value for money with charges limited to 1%, and flexible to suit nearly everyone's budget and circumstances.

• Payments are flexible can be stopped & started or altered with/without penalty.
• Payments can be weekly, monthly, yearly or just one off payments.
• The Minimum payment is £20 per month.
• Transfers in and out of stakeholder pensions are free.
• Charges are never higher than 1% of the fund value.
• They are available to employed as well as self employed and even people who are not working including children.
• All contributions attract tax relief at either basic or higher rate. Even if you are a non-taxpayer.
• Normally you can contribute up to £3,600 per year including tax relief, more in some circumstances.
• In many circumstances you can contribute to a stakeholder pension as well as your occupational pension.

 

 

 

Telephone: 01704 567 400

Fax: 01704 562 735

E-Mail: info@potterandminnis.co.uk