PERSONAL PENSIONS ADVICE & RETIREMENT PLANNING

By: Carden Associates  05/10/2009
Keywords: mortgages, mortgage, Loans & Mortgages

Carden Associates are Independent Financial Advisers and Mortgage Brokers based in Aberdeen. Our Financial Advisers offer a friendly and professional service to all our clients. We are here to assist you with all your financial planning and other related needs including; Investment and Savings Advice, Mortgage Advice, Pensions Advice, Personal, Business and Mortgage Protection Advice.

Our Pensions Advice Service includes advising on Personal and Group Pensions, below is a brief description of the types of pension schemes available. More information is available on our website  or call 01224 625550 to speak to an adviser

Personal Pensions represent a popular and attractive way of saving for your retirement. All monies invested into your fund grow free of capital gains tax, and the contributions you make are enhanced by income tax relief at source. For example if you invest £80, the government adds on tax relief (currently 20%) to enhance your contribution to £100! If you are a higher rate taxpayer you can claim additional relief through your pay coding.

A personal pension is an arrangement made in your name over which you have personal control. You can alter your contributions, suspend them, or stop them completely. You will be eligible to take 25% of your accumulated fund tax-free when you retire, from age 50 rising to age 55 by 2010. There are a range of options when you decide to take benefits whether before or after age 75. Personal Pensions usually offer a range of investment mediums to suit your attitude to investment risk, and you can change your investment at any time.

Stakeholder pensions are similar to personal pensions but have their charges capped at 1.5% for the first 10 years reducing to 1% thereafter. Whilst Stakeholders are generally considered a little cheaper than Personal Pensions, investment choices may be restricted.

Many companies offer a pension scheme to their employees. There are numerous different types available and usually the company will put some money into your pension if you decide to join. It is important that you take into account your exisiting pension provision, or that from your previous employer before making any decisions.We will be able to explain the features of your company’s arrangements, and may be able to assist you to select the right investment funds for your own needs.

To contact us by email go to our website and submit an onlne enquiry  or  to contact  an Adviser by telephone. Call 01224 625550.

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