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How pension saving works

Saving into this pension is a simple, low cost and tax efficient way to save towards your future. 

  • Your plan is set up for you by the Trustee.
  • Your pension savings are invested in one or more of our investment funds.
  • The aim of an investment fund is to grow the value of your pension pot but this isn’t always guaranteed.
  • You can decide what to do with your money, and how you take it from the Normal Minimum Pension Age (NMPA). You can do this whether or not you’ve stopped working. The NMPA is currently age 55 but this is increasing to age 57 from 2028.

Are there any charges for your new plan?

There are some charges that you pay for your Smiths Industries Pension Scheme - the annual management charge (AMC) for administration of the pension and the fund management charge (FMC). The Trustee should have let you know what these charges are.

How your pension is invested >

Understand how your pension is invested and what you need to consider.

Easily plan your retirement >

Planning your retirement is probably the most important aspect of financial planning for you to consider. Our free course with The Open University will help.