Personal pensions give you an element of control over your future income so you don’t have to rely on the State pension alone. The advantages of personal pensions are:
- You get tax relief on the amount (which is subject to certain limits) you put into your pension fund. Visit our tax relief page for more information.
- They allow you and your employer to make contributions even if you’re a member of other pension schemes.
- They allow you and your employer to make contributions as you move through different jobs.
- Normally, you can stop, start, increase and decrease your contributions whenever you like.
- They’re yours – you can normally choose the provider, the contribution amount, and the funds you invest in.
We offer a range of pension products to suit your individual needs
These include a:
- Personal Pension – an uncomplicated way of saving with a range of investment funds to choose from.
- Self Invested Personal Pension (SIPP) - a more flexible way of saving, allowing you to choose from a wider range of investments giving you greater personal control over where your money is invested.
- Stakeholder pension – a straightforward pension that you can apply for online.
Please note that the value of a pension plan can fall as well as rise and you won't be able to access the money invested in it until you are eligible to take your benefits, which is normally from age 55 onwards.
If you’d like to find out more about a Personal Pension or SIPP, please contact us on the number opposite or contact your adviser. If you don’t have an adviser, you can find one at www.unbiased.co.uk
If you take out a pension, you should review it on a regular basis to make sure that it’s on track to meet your retirement goals. You may also be able to increase your monthly contributions, which could improve your chance of achieving the retirement you want.