Pensions

WHAT IS A PENSION?

Pensions are the ultimate long-term investment and have special tax incentives – for example, you get tax relief on contributions.

You can’t get at the money in your pension plan until you reach age 55. Some employers’ pension schemes have additional rules about when you can take your benefits – you need to check this.

TYPES OF PENSION

If your employer offers you the chance to join a pension scheme you should almost always join it.

If your employer does not offer a pension scheme that they contribute to for you they may have a low cost ‘Stakeholder’ pension plan you can join.

We can advise you on Personal Pension Plans and schemes for small and large companies.

We can also advise on Self-Invested Personal Pensions (SIPPs) and Small Self-Administered Schemes for companies (SSAS).

If you have pension entitlements from previous jobs we can help you trace these and assess the value of them.

Pensions are the ultimate long term investment and offer tax incentives – for example you get tax relief on your contributions.

If you are a higher rate tax payer you need to claim the additional higher rate tax relief on your contributions via your self-assessment tax return or by contacting your tax office.

You can get a forecast of your State Pension entitlement at www.gov.uk.