card guide
Are you looking for a suitable pension?
Over recent years having a decent pension plan in place has become increasingly important for the younger generation of today.

For those in their twenties and thirties the government's state pension will mean very little in terms of value by the time retirement comes around, and therefore it is vital to ensure that you act early in getting a suitable pension plan in place if you wish to maintain a certain standard of living and enjoy your free time once you do retire. Although retirements may seem a long way off for younger people, it is imperative to start savings towards your retirement early on to ensure adequate benefits.

When you retire you have to chance to really enjoy life at last, and without work to worry about you can look forward to travelling, relaxing, and enjoying life at a leisurely pace. You may also have grandchildren by this time that you wish to buy things for and children that you want to spend money on. However, without an adequate income to rely on all of this will be impossible, and the government's state pension simply won’t stretch far enough to enable you to maintain this sort of life.

For those interest in taking out a pension plan there are a number of choices available. One of the pension types available these days is known as the stakeholder pension, and this type of pension offers an ideal way to fund your retirement if you have no pension in place at present. A stakeholder pension offers affordability and flexibility, which means that you won’t have to financially cripple yourself each month in order to put some money aside for your future.

Over recent years there has been much concern over whether today's younger generation would be able come anywhere near managing on the government's state pension when retirement time came around, and because of this the government wanted to try and encourage younger people to save towards their future. This is when stakeholder pensions were introduced. Many employers have also started to get rid of the final salary pension scheme that was very popular previously, and stakeholder pensions have become a suitable alternative for those that are not in a final salary pension scheme.

With a stakeholder pension you can contribute towards your retirement fund in an affordable and flexible way, and these pensions are not just designed to meet the needs of those in employment. In fact, anyone that can afford to contribute to a pension scheme can take up a stakeholder pension, and this includes self employed and even unemployed people can put money aside into one of these pension schemes. Those that are members of occupation pension schemes can also contribute to a stakeholder scheme, as can those on fixed term contracts.

There are restrictions on the amount of money that you will receive tax relief on with a stakeholder pension, but there are no limits in terms of the amount that you can put into a stakeholder pension. With a stakeholder pension the scheme can be operated in one of two ways – either with an FSA approved stakeholder manager such as a bank or building society or with a board of trustees managing the pension as part of a trust scheme.

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Posted on: [ December 04, 2018 ]       Add to   Digg it   Add to Blinklist   Add to FUrl   StumbleUpon