Personal pensions are a way of saving for your retirement, in addition to the pensions you get from work or the state. There is no minimum age to start a personal pension. The sooner you start contributing, the longer the money will have to work for you. Delaying can have a big impact on the amount you may receive in retirement. However, it is important that the amount you contribute is affordable.
There are a number of benefits to saving in a personal pension:
Alan Boswell Financial Planners have been advising clients on wealth management, retirement planning, private medical insurance and employee benefits for over 35 years.
If you’re looking for personal pension advice in Norwich or across East Anglia our qualified independent financial advisers will take the time to get to know you and your objectives and to understand your attitude to investment risk so that the pension options recommended are suitable, making sure we understand which approach, style and budget suits you the best.
The value of an investment and any income from it can go down as well as up and you might not get back the original amount invested. The past is not a guide to the future.
The value of tax benefits depends on your individual circumstances and the laws concerning these can change.
The minimum age to take the benefits is usually 55.
The money cannot usually be accessed until age 55.
Pensions can usually be transferred to other providers. This is something we can help you with, to make sure the decision to transfer is the right one.
The money you have saved will usually be payable to your beneficiaries. We can help you complete the relevant paperwork.
There are a number of options available at retirement. We can help you establish which retirement income solution is most suitable for you.
Tony is an Associate Director in our Wealth team who joined Alan Boswell from the national accountancy firm Grant Thornton in 2003. The Norwich office…
A Freedom of Information request has revealed a large number of people have been hit with penalties due exceeding to the pension annual allowance.