Pensions and Investments

Taking care of what’s important

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Are you saving with a company pension scheme but you’re not sure where your money goes? Perhaps you are put off by the complicated terms and conditions of your workplace scheme. The responsibility for pensions and investments increasingly lies with us as many final salary pension schemes gradually disappear.

It can be hard to have enthusiasm for your pension if retirement seems a long way off, but if you leave it too late you may leave yourself with too little savings to live on in your retirement. It pays to start investing for your future as soon as possible.

A general investment account – or GIA – is a flexible savings account which allows you to hold a variety of investments, aside from an ISA or pension fund.

Cash ISAs Fixed rate ISAs Stocks and shares ISAs Help to buy ISAs Junior cash ISAs Junior stocks and shares ISAs The terms of each […]

Flexible drawdown is also known as flexi-access drawdown, due to the increased flexibility it provides over other types of pension. This greater flexibility can also reduce the amount of tax you pay on your pension. Drawdown provides the flexibility to vary your income to meet your needs.

A SIPP – or Self-Invested Personal Pension – is a do-it-yourself alternative to a standard pension. A SIPP is like a folder that contains all your investments and allows you to benefit from tax breaks.

With a state pension no longer guaranteed, an individual personal pension is imperative to ensure you are financially secure in your retirement. Take advantage of the tax relief as soon as possible and start to pay into a plan.

Regardless of how old you are, you should start saving in a pension as soon as possible, especially if your employer is contributing. The sooner you start saving, the sooner you can start to build up the funds you will need to live on in your retirement.