Independent Financial Adviser in Colchester, Essex - Woodruff Financial Planning
independent financial advisers colchester essex members of the institute of financial planning (IFP)Independent Financial Adviser in Colchester Essex
   
independent financial adviser in colchester essex

Personal Pension Plan

What is a Personal Pension Plan?

A personal pension plan is a particular type of pension designed to allow people to save for retirement. A personal pension plan should be contrasted with an occupational pension (provided by a company with different rules) and a retirement annuity plan (which was the precursor to the personal pension plan).

Under current rules anyone is able to invest up to 100% of their earnings into a personal pension plan. Even without earnings any UK resident can invest up to £3600 gross per annum in a personal pension plan provided they are under 75. Retirement can be from age 55.

A personal pension plan attracts tax relief on contributions. Also, you will be able to claim up to 25% of the fund as tax free cash when you take your personal pension plan income in retirement (using an annuity).

Your employer may pay into a personal pension plan for you as well.

In the last few years, the stakeholder pension has become the norm for the personal pension plan. This is a particular type of personal pension plan that puts limits on charges and contributions.

Click here to see our leaflets on pensions.

Click here to see a leaflet on why you should review your pension plans.

Choosing a personal pension plan is not easy. To get advice on the right pension for you, why not contact us?

 

 


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--- Pensions --- What is a pension? --- Personal Pension Plan --- Stakeholder Pensions --- What we will do --- Pension Quotes --- Tax free cash --- Tax relief --- Retirement annuity plan --- Company pension scheme --- Group Personal Pension Plan --- Options at retirement --- Pension annuity --- Open Market Option--- Income Drawdown --- Phased Retirement --- Money Purchase scheme --- Final Salary Scheme --- EPP --- SIPP --- SSAS --- Pensions and divorce ---
--- Write: Suite 43, The Colchester Centre, Hawkins Road , Colchester, Essex, CO2 8JX --- Phone: 01206 266882 --- Email: click here ---
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Dan Woodruff, trading as Woodruff Financial Planning, is an Independent Financial Adviser with Julian Harris Financial Consultants who are Independent Financial Advisers authorised and regulated by the Financial Services Authority No. 153566.
By viewing this site, you are deemed to accept our terms and conditions in full. This site is for information only, and does not constitute financial advice.
Independent Financial Adviser Colchester Essex UKFor United Kingdom residents over 18 only. © 2003 - 2008 Woodruff Financial Planning.