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Personal Pension Plans
A simple fund-based contract where you (and perhaps your employer) put money in, and in due course you use the fund to provide a retirement income. You can also take up to 25% of the fund as a lump sum currently free of tax.
You and your employer (if applicable) can invest as much as you like into the plan, subject to the Annual and Lifetime Allowance rules.
Your fund value will be dependent on investment returns, contributions, charges on the contract and the term to retirement.
Depending on the terms of the policy, you will in most cases have a choice in how your fund is invested.
If you wish to discuss the above further or require information on any of our services, then please contact us.
Any reference to legislation and tax is based on FPP’s understanding of UK law and HMRC practice. These may be subject to change in the future. Tax rates and reliefs will also change and their value to you will depend on your individual circumstances. No guarantees are given regarding the effectiveness of any of the above strategies.