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Pensions Advice Lampeter, Ceredigion

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Personal

Personal Pension Plans

Designed to offer a lump sum and income in retirement, a personal pension is available to any United Kingdom resident who is under 75 years of age. When you contribute to a Personal Pension plan, your money is invested and a fund is built up. The amount of pension payable on retirement depends upon:

  • the amount of money you paid into the scheme;
  • the performance of the investment fund
  • the 'annuity rate' at the date of retirement. The annuity rate is the factor used to convert the pension fund into a pension.

Currently a Personal Pension scheme member can retire at any age between 50 and 75, with the minimum age rising from 50 to 55 from 6 April 2010. At retirement, you may normally take up to 25% of the value of your fund as a tax-free lump sum, with the balance commonly being used to buy an annuity.

The value of your investment and income from it is not guaranteed it can go down as well as up due to fluctuations in investment markets, and you may not get back the full amount invested.

Levels and bases of and reliefs from taxation are subject to change and their value depends on the individual circumstances of the investor


Pensions Enquiry


PJE Chartered Accountants

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Company address: Cyfri Cyfyngedig - 23 College Street, Lampeter, Ceredigion, SA48 7DY
T: 01570 423 823
F: 08709 223 296

Email: post@cyfri.co.uk

Registration address as company address
Registration number: 03925755
Registered in: Wales

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For Investment Planning we make recommendations based upon the Whole of Market.

The levels, bases and reliefs of taxation are subject to change.

The guidance provided within this website is subject to the UK regulatory regime and is, therefore, primarily targeted at consumers based in the UK. This site does not confer any form of personalised financial advice, should you wish to receive specific financial advice please contact us.

Cyfri Cyfyngedig is an appointed representative of The M&E Network Ltd, which is authorised and regulated by the Financial Services Authority. The M&E Network Ltd is entered on the FSA register under reference 150643.

Company phone: 01570 423 823 | post@cyfri.co.uk

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