Just under 50% of people do not have a private pension

Will you be worse off when you stop work?

  • ARE YOU EMPLOYED OR SELF-EMPLOYED?
  • ARE YOU PAYING INTO A PENSION?
  •  

Let me call you

Why have one and what do they mean for your future?

Whether you are employed or self-employed, when you retire and your monthly salary stops or your business winds down, life continues.

The bills still need to be paid and many of us may hope to be able to travel more and find time to relax. Whilst we are earning, we can put away the ‘right amount’ to provide for that lifestyle.

This pot of money earns interest over the years and is worth more when we come to retire, at this time we then draw out the amount we need. This amount needs to worth enough to last the remainder of our life. This is a pension. There are tax benefits of putting your money into a pension.

 

What type of pension could you have?

If you have a private pension, this would mean that you have to fund them yourself, but they are a secure form of paying for your retirement and you have total control over who you choose as a fund manager and where your money is held. This type of pension is normally accessed by anyone who is self-employed or runs their own business. No matter what stage you are at in your self-employed career, it is never too late to think about your retirement and how you can plan for the future.

If you are employed, employer pensions often include an option where your employer contributes towards it too, and some even match what you put in, which is an added bonus. However, you do not have control over which company manages your funds.

Pensions are tax efficient too so if your payments come straight from your gross salary, you won’t pay any tax on them. If they don’t, you can still claim the tax back.

A pension provides you and your family with security. It provides you with an income whilst in your retirement. The State Pension at present is not enough for most people to enjoy the lifestyle they would like . 

Remember it is worth starting paying into your pension pot early. Many young people entering into their first job will not even think about pension contributions, but with most of us living longer and the State not being able to provide, it’s a good idea to build up a decent pension fund by the time you retire. Who knows what will happen in 30 years time, we may not even have a state benefits system to rely on!

Special Offer: Pension Review

Usually charged at £125 per pension for two pensions or less, and for more usually £250, until 19 July 2019 this service is offered to you for FREE.

Whether you are self-employed or employed, we will write to your existing pension providers to find out all the details and assess how much your pension pot needs to be for you to retire comfortably.

Any regulated advice provided about if to then move those pensions, add to them or set-up any new pension would be charged separately. (See below) 

lump sum less than £50,000 and/or a monthly contribution - set fee along with ISA and Pension £1200 including cash projections (on going management fees apply*)

lump sum over £50,000 for any recommendation implemented a charge of 1.5%-2% (based on investment levels) is applied. (on going management fees apply*)

*Ongoing management fees for investments/pension – This is where an IFA would support the client with a review of their financial position every year and review the plan set up. This charge can be taken from the plan itself or it can be paid by the client directly. This fee is charged between 0.50%-1% of the investment amount.

INTERESTED?

Contact us on 0330 3322 612 or e-mail us at email@evolutionfinancialplanning.co.uk to book your FREE pension review.

Just under 50% of people do not have a private pension

Will you be relying on the State to fund your income?

Let me call you