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The value of pensions and the income they produce can fall as well as rise. You may get back less than you invested.

Whether you currently have a pension plan in place, or you are looking for financial advice on the best way for you to invest, you can be sure to benefit from speaking to our fully qualified advisers.

Pensions offer you an efficient and tax-friendly way to invest and protect your hard earned money for the retirement years ahead, so it’s important that you select the options that will work best for you.

If you currently have a pension plan and wish to take a look at how the current financial market will affect your plan, then we recommend you speak with one of our advisers.

Our Pensions services include…

Pension Types

Personal Pension Plans (PPP’s) & Stakeholder Pensions (SHP’s)

Available to all UK residents, a personal pension plan is a pension plan that can accept contributions paid by you, your employer or a third party, which can be arranged with various institutions such as insurance companies, banks, and even supermarkets. We can help to find the most suitable arrangement for you.

Upon reaching retirement, normally a lump sum of up to 25%* can be taken immediately tax free* with the remainder being used to support you and your family over the coming years.  Many changes have occurred in this area and we strongly recommend that you seek professional advice in order not to suffer financially in the forthcoming years.

*Under current legislation

Workplace Pensions

There are two main types of workplace pensions, which you will often find offered to you as an employee.

Defined Benefit Schemes –The value of your pension is determined by your final or average salary along with the time of service of the employee. Various schemes offer different accrual rates.

Defined Contribution Schemes – Often referred to as “group” plans, the company will invest the contributions of its employees into a plan similar to that of a PPP.

Auto-enrolment – By the end of 2018 employers will be required to put in place workplace pension schemes. Subject to the status of the employee, the employer may have to put the employee into a pension scheme, either through “contractual” or “auto” enrolment. If the employee remains in the pension scheme (and does not opt out) then the employer will be obliged to pay a pension contribution on their behalf.

The whole arena surrounding workplace pensions has changed so professional advice is a must!

State Pensions

Standard and basic pension support is offered to UK residents who have contributed towards National Insurance throughout their working life.

With an ever-increasing age of retirement, this pension will offer only the bare minimum of support. It is also important to be aware that there have been significant changes to state pension amounts, pension accrual and pension ages since April 2016.

Why choose Ashwood Law Wealth Management for pensions?

Choosing A Pension

Choosing a Pension is one of the most important decisions you make during your life. Your lifestyle may have to change considerably, when you come to retirement age, if incorrect decisions are made! There are a myriad of ways of saving up for your retirement, some are more tax advantageous than others and it is important … Continue reading Choosing A Pension

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