Which Pension is right for you?
Many people ask ‘which pension is right for me?’. As independent financial advisers we pride ourselfs on finding the right pension for your indevidual needs from the whole of market.
Please call us so you can ‘Start a Pension’ on 01323 734530
Making sure that we have enough money for the end of our working days is the biggest financial challenge most of us ever face. As we live longer and retirement years increase, solid savings become ever more important.
Your money has more time to grow, and you will get more top-ups from the taxman. If you start a pension early, you can pay in less each month and still match the pension of someone who starts later – or pay in the same which means you’ll have more than they will, come retirement.
You can start which pension scheme at any time – whether you are employed, self-employed or not working. This type of pension is called a personal pension. Once you have set one up you can control how much money you pay into it.
You can save as much as you like into a personal pension. It won’t affect your entitlement to the basic State Pension but it may reduce the amount of additional State Pension you build up. You’ll be able to get tax relief on the amount you put in, up to an annual allowance. So, for each pound you put into your pension, the government tops it up using money it would otherwise have taken from you as tax.
Which pension is good for you?
Your decision will largely depend on how much you can afford to save for your pension and how much you will get from other pensions.
Personal pensions may be suitable for:
- people who are self-employed
- people who are not working but can afford to pay for a pension
- employees whose employer does not offer a company pension scheme
- employees who have the option to pay into a company pension, but choose not to
- employees on a moderate income who wish to top up the money they would get from a company pension
As independent financial advisers we pride ourselfs on finding the right pension for your indevidual needs from the whole of market.
Please call us so you can ‘Start a Pension’ on 01323 734530
