Pensions
Confident about Retirement?
We’ll review your current pension arrangements, looking at ways to increase the efficiency and effectiveness of your contributions and to minimise the amount of service charges you pay.
Could you live on £87.30 per week?
That’s the current (year to April 2008) single person’s basic pension. And you only get that if you’ve paid the relevant NI contribution for 40 years.
Just to put it into context. If you’re earning £20,000 a year now, you’re bringing home around £250 a week. If you earn £50,000 a year now, it’s over £500 a week. So relying on the State is really not an option.
Why do you need a pension scheme?
Pensions give you tax relief on your contributions. This means for the 2007/8 tax year 22% if you’re a standard rate tax payer or 40% for higher rate tax payers. We’ll advise you on the best options available to you, and make sure that you are making the most of the tax concessions available.
If you already have one or more pensions
We’ll offer a free analysis of your situation. Pensions aren’t something that you set up once then leave until retirement. You need to regularly review your level of contributions and your provider(s). The amount of money you put in at the age of 25 is unlikely to be the right amount of money to be putting in at 45. A further factor is that some pension providers have far higher charges than others, meaning that you could be paying more than you need towards their profits and less than you need towards your pension. .
Try our Pension Calculator to find out how much you should be contributing in order to achieve your target retirement income. If your current arrangements aren’t covering this, we’ll review your circumstances and advise you on the best way forward.
Are you confident about retirement?
To make sure, contact us or phone Nick Cosby on 01260 223115.
For information on how Stakeholder pensions may affect you, press the relevant button below. |
|
YOU ARE:- |
|
| Retired, 75 (or more) years old | |
| Retired, under 75 years old. | |
| Company owner/director (whether alone or in conjunction with other people). | |
| Employer, (or manager with responsibility for pension/legal workforce issues). | |
| Self employed | |
| Employee earning £30,000 or more per annum and a member of the company pension scheme. | |
| Employee earning less than £30,000 per annum and a member of the company pension scheme. | |
| Employee who is NOT in the company pension scheme, either by choice or because there is no company scheme to join. | |
| Non (or low) earner with savings | |
| Non (or low) earner with financially supportive partner | |
| Child | |
