Pensions
Here To Help
It is never too early or too late to start thinking about Pensions, it is a tax-free way of saving money for your future.
Time to Start Thinking About Your Pension?
One Question to consider is ‘can you afford to live off the State Pension?
Even without a mortgage and other debt that you may hope to have cleared by the time you retire; the State Pension will not get you very far.
A pension plan is a long-term savings plan which will help you save for the future, it can replace part of your income for the rest of your life at retirement but the longer you leave it to start funding it, the more expensive it becomes.
Different Types of Pensions
Personal Pension
This pension is suitable for people who are self-employed, or your employer does not offer an occupational pension.
Key Points About A Pension
You can get tax relief when you pay into your pension.
Reduce the risk of financial insecurity in retirement.
Provide freedom for retirement age.
Tax free lump sum at retirement.
FAQ
A pension is a long-term savings plan that you can use to build up a fund to give you pension payments when you retire from work.
People are living longer and to have a comfortable standard of living in retirement you will require a pension unless you could live off the state pension.