Pensions

Pensions are one of the most tax efficient and effective ways to save for retirement, but deciding how much to save and which type of pension is best can be a complicated business without professional guidance.

Retirement Income

No longer limits on the value of your pension. There’s now a lifetime allowance on tax-free pension saving. You can build up a higher pension for your retirement if you wish.

Save More

No longer limits on how much you can save for your retirement each year. You can build up a higher pension with more flexibility. If you decide not to contribute in any one year you can double-up the next.

Tax-Free Lump Sum

On retirement the maximum tax-free lump sum is now 25%  the value of your total pension benefits. It means you can take a bigger tax-free sum when you retire.

Other Pension Plans

You can be a member of as many personal plans as suits your individual circumstances.

Retiring Age

Under the old rules you could draw your retirement pension from age 50 (with consent from your employer). But from 6 April 2010 most people will not be able to retire (unless they have a contractual right) before they are 55.

SPB will help you find the right balance and work out how much you can afford to save – and just as important how much you will need to save now to maintain the quality of life you want in retirement.

No investment advice or decision should be based on the content of this site. Always take full individual advice first. Regulations and legislation governing taxation, investments and pensions may change in the future.

Spring Parker Brown is an appointed representative of Investments Ltd which is authorised and regulated by the Financial Services Authority. Registered address: 20 Willow Drive, Cheswick Green, Solihull, B90 4HN

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