STAKEHOLDER PENSION
If you haven’t got round to investing for your retirement yet, don’t worry we can
help you put that right. We’ve teamed up with Standard Life, one of the country’s
leading pension providers, to help you plan for your future.
What’s a Stakeholder Pension?
We all look forward to the day when we can hang our working boots up and retire!
The thing is, you need to be sure you’ll be able to afford the kind of retirement
you’re hoping for.
A Stakeholder pension from Standard Life is designed to be a straightforward, flexible
& tax efficient solution to ensure you’re financially prepared for the future.
Who can have one?
Stakeholder pensions are available to almost everyone - including the employed,
the self-employed, and people who aren’t actually working but who can afford to
make contributions.
4 great reasons to take out a Stakeholder Pension
- There are generous tax benefits. The way tax relief works is, if you pay in £80
(tax year 2008-09), the Government tops it up to £100, if you are a non-tax payer
or basic-rate tax payer. Higher-rate tax payers can claim back an extra 20% through
their tax return. Tax relief may alter and its value depends on your financial circumstances.
- Charges are low – just 1% of your fund value each year.
- Lock away your savings until you reach retirement age. (That’s a good thing when
you’re saving for your future!)
- Choose from a wide range of carefully selected investment funds, to help your money
grow. You should remember however that the value of your investment can fall as
well as rise.
The basic rules for Stakeholder Pensions
- You can invest up to £3,600 a year, whatever you earn
- You can contribute more than £3,600 a year if you have enough earnings
- You can make regular or single contributions to suit your finances
- You’ll have the flexibility to increase and decrease your contributions, or transfer
a pension from one provider to another, all without penalty
- You can take a 25% lump sum from your pension fund at retirement tax free
- Your pension in retirement will be taxed as earned income.
Standard Life Direct is provided by Standard Life Client Management Limited. Standard Life Client Management Limited advises on, and sells products from, subsidiaries of Standard Life plc and some external providers.
Portsmouth Financial Services are Introducer Appointed Representatives for Standard Life Healthcare & Standard Life Client Management, this means that we introduce business to Standard Life Healthcare and Standard Life Client Management.
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