John Head Finance - Independent Financial Advice - Teignmouth, Devon - Pensions - Starting Out

Pensions - Starting Out

Making the right start is important and the decisions you make at this point are vital...look out for...

Pension Schemes provided by your employer

These are invariably worth joining, particularly if they are Final Salary (Defined Benefit) Schemes.

Even a Group Personal Pension (Defined Contribution) Scheme will often mean that your employer pays into the pension as well as you.

There are plans to introduce compulsory NEST (National Employment Savings Trust) schemes which employers will have to pay into for most employees over a period from October 2012 to March 2016.

No Employers Scheme or Self Employed

Then you need to decide between Stakeholder Pensions and Personal Pensions - we can help with that decision but as a general rule, Stakeholder Pensions are most suitable for someone looking for a plan with a cheap charging structure and requiring no ongoing advice.

Personal Pensions are invariably more suited to those requiring ongoing advice and investment monitoring... but they do not need to be extremely expensive. Most Personal Pension contracts offer you more options for investment and are priced very competitively in today's market.

Money Made Clear - Pensions PDF

We recommend you read the Money Made Clear booklet
published by The Consumer Financial Education Body
(PDF, 680KB)

Contact us for affordable independent advice on:

Choosing your pension plan at the start

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