Two basic types of pension are available: Personal (Individual) and Company operated schemes. A company occupational pension is set up by the employer, although employees may still need to make contributions. Personal pensions comprise various types including Stakeholder pensions.

At Cheltenham IFA we specialise in the entire Personal, Stakeholder and Group Pensions market. This is an ever changing world, with new legislation and different schemes being brought out on a regular basis...making it difficult to keep track of what options are available for retirement planning.

Benefits of our service:

Most people dream of an easy life in retirement, but this will often depend on the level of pension benefit received. It's never too early to consider your pension options which should be regularly reviewed. The more years that funds are built up, the larger the eventual ‘pot’ and levels of pension income.

If you are self-employed or in employment without a pension arrangement, then we can provide individual pension schemes to suit. Even if you are lucky enough to be in regular long term employment and enjoy an excellent company scheme you may still be able to take out a ‘top-up’ into a Personal Pension.

The Pensions Act 2008 – what’s new?
From 2012 eligible workers (including temporary staff) between the ages of 22 and State Pension Age will either be automatically enrolled into their employer’s existing workplace pension scheme or entered into a new Personal Accounts scheme, ensuring those who in the past have not had the opportunity build up any savings for retirement can now do so. Read More...

How Much Should I Save Towards Retirement?
The fundamentals of a Pension Plan are very simple. You pay money into a savings fund, it hopefully grows in value and at retirement you convert the fund ‘pot’ into a regular income payment, to replace part, or all, of your earnings from employment.
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Pensions for the self-employed
If you're self-employed you make class 2 National Insurance contributions. These will entitle you to the basic State Pension, but not the additional State Pension. If you want to receive more than the basic State Pension when you retire, you might want to consider starting a personal or stakeholder pension scheme. You'll then be able to make regular payments to build up savings for your retirement. Read More...

What Are My Options At Retirement?
An explanation of some of the common options open to clients when they come to take their retirement benefits (not applicable to people in Company Final Salary pension plans). Read More...

Income Drawdown - Is It Right For Me?
Annuities are historically the most popular option in retirement, with a great many looking for the security that they provide. However, it's unlikely that they will continue to account for approximately 90% of the entire retirement planning market as they do just now. Why, you ask? Read More...

Alternatively Secured Pension (ASP) and the Family SIPP
Despite the recent debates on whether Alternatively Secured Pension (ASP) should be available to everyone, it was introduced at the 6th April 2006 ‘A-Day’ pension changes as an alternative option to annuity purchase for those aged 75 and over. Rather than being forced to purchase an annuity, ASP now offers greater choice and flexibility for those over age 75. It enables them to continue drawing an income directly from their fund in a similar way to an Unsecured Pension. Read More...

Second State Pension - The facts and figures
These notes are geared to 'contracting out' using personal / stakeholder pensions. The position for employer-sponsored schemes can be different and you should seek further guidance from your scheme administrators. Read More...

Pensions And Divorce
Although the number of divorces granted in the UK has been falling, divorces still affect well over a quarter million adults every year and their pension prospects. Like it or not, with pensions being most people’s second biggest asset, a major consideration is always going to be pension benefits. Read More...

Understanding Personal Pensions
Personal pensions may be suitable if you're employed and not in a company pension scheme, or as a ‘top up’ addition to a company pension. You may also wish to set up a personal pension if you are self-employed or if you are not working but can afford to put aside money for retirement. Read More...

The above notes on Pensions are intended to provide a general appreciation of the topic and it is not advice. Guidance should be sought from a specialist like ourselves who is qualified to advise in your specific circumstances. We offer Personal Pensions, including an Individual Stakeholder plan. You should remember that the value of your pension fund can fall as well as rise and is not guaranteed. This means that you could get back less than you put in. DISCLAIMER - SOME ASPECTS OF EMPLOYER PENSION SCHEMES ARE REGULATED BY THE PENSIONS REGULATOR RATHER THAN THE FSA.

For more information on Pensions, please contact Cheltenham Independent Financial Advisers Limited on 01242 269656 or email us at info@cheltenhamifa.co.uk. One of our advisers will be happy to assist you.