Your company pension.

A HELPING HAND FOR YOUR RETIREMENT

Your workplace pension is one of the most effective ways for you to save for retirement.  We try and make it as simple as possible for you to join.  Once you start to pay in, your employer will often contribute too.

WHAT ARE THE BENEFITS?

A number of benefits are open to you with your company pension scheme:

• Tax relief.  To make saving into a pension more appealing, the taxman will contribute towards your pension fund. You automatically get 20% tax relief on your pension contributions. For instance if you invest £100, the taxman pays £25, giving your pension pot £125.  If you’re a higher rate tax payer you may qualify for more tax relief (through your tax return).
   
  In general, tax treatment depends on your individual circumstances and may be subject to change in the future.
• Employer contributions.  Depending on how your scheme has been arranged, you can build up your fund even more through the help of your employer’s contributions.  This lets you save more and achieve a better income at retirement. Speak to your employer about what’s available to you.
   
  The Government is making some changes to workplace pensions from 2012 with the introduction of auto enrolment.  Find out more about the plans and what this might mean for you.
• It can save you time.  Your contribution will usually be deducted from your salary and we will invest the money on your behalf, meaning you don’t have to do any hard work yourself.
• You can be in control of your pension.  With Manage Your Account you can monitor the performance of your pension at any time, view where your money is invested, and keep informed about current and new investment funds.
• It’s out of temptation’s way.  The money in your pension pot is tied up until you reach the age of 55, so you’re not tempted to dip in here and there.

MAKING THE MOST OF YOUR EXISTING PENSION PLANS

To make life easier, you may like to transfer any money you have in an existing pension plan(s) into your Legal & General plan.

Here are some reasons why you may wish to do this:

• You may benefit from smaller charges on your contributions.
• Your existing company scheme is being wound up.
• You may wish to consolidate all your plans into one, so managing your pension is easier.

Please speak to your current employer about what options are available to you or speak to a financial adviser.

Find out why starting to save now is a good idea and the consequences of starting late.