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Archive for the ‘Pension Plan Advice’ Category
Wednesday, June 1st, 2011
In a word, yes! Your pension is your future financial security in retirement and seeking pension plan advice is a sound investment of time and effort.
 Should You Seek Pension Plan Advice? Pensionlite are independent financial advisers who are dedicated to providing our customers with the best pension advice in accordance with their personal circumstances and financial situation.
Many feel they have nothing further to do with their pension, because they have been paying into a pension fund for years and simply feel that it will take care of itself.
This is a dangerous attitude to take and there really is no reason not to take the time to seek some quality professional advice from Pensionlite’s firm of independent financial advisers, who are directly authorised and regulated by the Financial Services Authority (FSA) to assist you in considering the pension market options and making the right choice.
If you have never opted to have your pension thoroughly assessed you might be paying fees and charges which are above the market norm without being aware of it. Likewise, you will not have considered another pension provider who might be able to offer you a far better pension plan which really makes your money work for you.
Naturally, in the current economic climate, which may last for some years yet, everybody needs to make sure the money they have is soundly invested and this is even more important with a pension, which is a person’s nest egg for a financially secure retirement.
Pensionlite have conducted in-depth research into common trends and attitudes within the pension market and unfortunately some people simply do not question their pension and annuity or seek pension plan advice, which really is surprising.
A person’s pension and annuity will significantly impact on their quality of life in retirement and they must be given due consideration. One sure way to make sure you are getting the most from your pension is to pick up the phone and call Pensionlite.
So you have sought pension plan advice, well done, but now you have had the benefit of a review and have taken the necessary action, how regularly should you have another pension review with Pensionlite?
 Tired and need some pension plan advice We would advise every year, as the pension market alters and fluctuates regularly and you need to keep abreast of different pensions which may offer you more for your money and suit your needs better. Personal circumstances can rapidly change, requiring you to make amendments to your pension plan.
An annual call to Pensionlite is all it takes.
Pensionlite can tell you how your pension is performing and offer professional advice on to how to improve its performance. Carrying the respected status of Chartered Financial Planners, Pensionlite are among a special body of firms in the UK whose ability to offer advice, service and support is measured to the highest standards.
If you require free, independent, no obligation pension plan advice then call Pensionlite on 01952 279379 or email: enquiries@pensionlite.co.uk
Tags: pension plan advice, pension plans, pensions
Posted in Pension Plan Advice
Tuesday, May 17th, 2011
Many people think that once they have sorted out their pension plan, they are set for life. No more worries about which plan to choose, whether to opt for a company or personal pension, no more searching the market for the best rates.
This is an extremely narrow view of pensions, and anyone with this sort of mindset could probably benefit from pension plan advice more than anyone else.
Similarly to your utility rates or your interest rate on your bank account, you might already have a provider, but you always keep one eye on the alternatives. The same goes for your pension plan, particularly as the legislation around pensions is constantly changing.
 free pension plan advice The basic charging structure and investment returns also need a regular review. Thousands of people paying way over average in management fees AND RECEIVING POOR INVESTMENT RETURNS..
By obtaining professional pension plan advice from experienced independent financial advisers, you are one step closer to achieving a financially stable retirement.
Pensions can be extremely complex with many different clauses, SOME TO YOUR ADVANTAGE, SOME NOT, so it is important that you allow an expert to review your choices.
By carrying out an impartial pension review, we will be able to establish exactly how your pension has performed and is currently performing.
We will be able to check any benefits and guarantees written into your plan. If necessary, we might even recommend transferring your pension to a better provider before you retire.
There are many things to consider with your pension and retirement, so it is important to obtain pension plan advice as soon as possible.
Pensionlite can help.
Our Free, Independent, No Obligation Pension Reviews are designed to put you in a position of knowledge before you make any decisions.
It will not cost you a single 1p to accept a pension review and recommendation report tailored to you, your circumstances and aspirations.
What have you got to lose?
Pensionlite carries the prestigious status of Chartered Financial Planners.
Our Chartered status, granted by the Privy Council, is our industries gold standard for financial planners and is currently held by less than 300 firms across the country.
This status brings with it serious obligations to ensure the advice, service and ongoing support we provide for you is of the highest quality, based solely on your researched needs and provided by someone of appropriate competency.
We offer whole of market choice and have no links or ties to any single business or organisation.
Our aim is to provide our clients with tailored solutions, created by advisers with particular skills and specialist qualifications.
Our advice process is always to gather a full understanding of our client’s needs, circumstances and aspirations together with detailed analysis of any existing arrangements and make written recommendations before any decisions or actions are taken.
We provide free, independent, no obligation review and recommendation reports covering all aspects of our specialist areas of work.
Knowledge is power and unless you know, how can you decide on a course of action.
We look forward to being of service.
To contact us telephone 01952 279 379, e mail enquiries@pensionlite.co.uk for pension plan advice.
Tags: free pension review, pension plan advice, pension plans, pensions
Posted in Pension Plan Advice
Monday, April 4th, 2011
No, However, by obtaining professional pension advice from a qualified financial adviser, you are one step closer to achieving a financially stable retirement. I know you expect us to tell you that because we are an independent financial advisory firm – it would be a little strange if we told you not to bother.
 I have been contributing to a pension for years – why would I need pension advice?
If this is you, you are the exact person we are looking for. People who think that they are completely prepared for retirement because they have been contributing to a personal pension since they started employment are usually the people who need our advice the most.
I bet that your pension has never been assessed to see if its fees and charges are on par with what else is available on the market. I could also take an educated guess that you have never transferred your pension to a different provider.
If I’m wrong, third time lucky says that you will take the pension annuity offered to you by your current provider without taking advantage of your Open Market Option (OMO).
Are you wondering how I know?
We know because research and surveys have shown us that the majority of people don’t, and this is surprising. Your pension and annuity are two of the most important financial decisions you will ever make, and so they should not be ignored.
By obtaining specialist pension advice from one of our advisers, you will be able to see exactly how your pension is performing compared to alternatives, and whether the rates advertised by the provider are the genuine rates that your pension is producing.
Ok, so when should I seek advice?
It is always a good idea to set up a regular pension review with your financial adviser to ensure that your pension is always on track to meet your aims and objectives. This is often once a year for most people, with some exceptions.
However, if your personal circumstances change dramatically, you should inform your financial adviser. This could include anything from a change in employment, to divorce, marriage or children.
There is not one set ‘best pension’ for anyone and with everyone’s circumstances being completely different, it is essential that these are taken into consideration when making decisions about your pension.
How could pension advice help me?
Would you prefer to receive 30% less each year in income from your pension? I didn’t think so. If you are unaware of how your investment is performing and what options are available to you at retirement, how do you expect to have chosen the annuity with the best rates?
Can Pensionlite help you?
Pensionlite carries the prestigious status of Chartered Financial Planners.
 Our Chartered status, granted by the Privy Council, is our industries gold standard for financial planners and is currently held by less than 300 firms across the country.
This status brings with it serious obligations to ensure the advice, service and ongoing support we provide for you is of the highest quality, based solely on your researched needs and provided by someone of appropriate competency.
We offer whole of market choice and have no links or ties to any single business or organisation.
Our aim is to provide our clients with tailored solutions, created by advisers with particular skills and specialist qualifications.
Our advice process is always to gather a full understand our clients needs, circumstances and aspirations together with detailed analysis of any existing arrangements and make written recommendations before any decisions or actions are taken.
We provide free, independent, no obligation review and recommendation reports covering all aspects of our specialist areas of work.
Knowledge is power and unless you know, how can you decide on a course of action.
We look forward to being of service, and giving you pension advice that you need.
Tags: Individual Pension Plans, pension advice, pension plan advice
Posted in Pension Plan Advice
Sunday, March 13th, 2011
- Your pension pot is where you send your regular pension contribution whilst in employment, but a lot of people do not know how to turn this fund into an income when they retire.
- Most people have never really considered how their pension fund is performing or whether it is working for them.
- It’s more common to put all your efforts into managing your other finances such as your salary, household bills, shares and savings accounts than your pension.
- Pension funds are often left to look after themselves.
 If these scenarios ring true to you, then it’s extremely important that you seek professional pension plan advice as soon as possible. You could be losing thousands of pounds by not understanding your pension plan and how it could be working harder for you.
Once you have built up your pension fund and are thinking about retiring, this is where an annuity usually comes into play. However, in recent years, new UK legislation has been introduced allowing for more flexible options.
If you are over the age of 55, the new rules enforced by the government allow for those with incomes of £20,000 per annum or more to have no limit on the income they take; or take an income for life with a limit but without the need for an annuity; or even deferring taking a pension past the age of 75 which effectively ends the needs for an annuity by the age of 75.
These rules are great news for those nearing retirement as it means that you are granted extra freedom once you finish employment. For many, a conventional lifetime annuity might still offer everything you want from retirement, but by exploring these new alternatives, you could receive thousands of pounds more in annual income. The flexible options do require significant knowledge of the pensions market and other areas of finance so it is of utmost importance that you obtain expert pension plan advice.
Pensionlite are an independent financial advisory firm regulated by the Financial Services Authority (FSA). We are experts in retirement and pensions, so when you are thinking about your options, one of our highly trained advisers is able to provide you with sound impartial pension plan advice at no cost.
Too good to be true?
When something seems this good, it is easy to be sceptical but we guarantee that you won’t hand over a penny to us unless you go ahead with our plans.
So why not take advantage of our completely free pension plan advice, and start your journey to a healthy retirement? By understanding your pension and the options available to you when you decide to retire, you can ensure that you are financially stable for future.
Pension&Investor Lite carries the prestigious status of Chartered Financial Planners.
Our Chartered status, granted by the Privy Council, is our industries gold standard for financial planners and is currently held by less than 300 firms across the country.
This status brings with it serious obligations to ensure the advice, service and ongoing support we provide for you is of the highest quality, based solely on your researched needs and provided by someone of appropriate competency.
 Pension & Investor Lite, is an Independent Financial Adviser firm, Directly Authorised and Regulated by the Financial Services Authority, specialising in Pensions & Investment.
We offer whole of market choice and have no links or ties to any single business or organisation.
Our aim is to provide our clients with tailored solutions, created by advisers with particular skills and specialist qualifications.
Our advice process is always to gather a full understand our clients needs, circumstances and aspirations together with detailed analysis of any existing arrangements and make written recommendations before any decisions or actions are taken.
We provide free, independent, no obligation review and recommendation reports covering all aspects of our specialist areas of work.
Knowledge is power and unless you know, how can you decide on a course of action.
We look forward to being of service.
To contact us telephone 01952 279 379, e mail enquiries@pensionlite.co.uk
or visit our web site www.pensiponlite.co.uk for pension plan advice
Tags: pension advice, pension plan advice, pension transfers
Posted in Pension Plan Advice
Monday, February 21st, 2011
Pension & Investor Lite carries the prestigious status of Chartered Financial Planners, our pension service uk team will help you.
Our Chartered status, granted by the Privy Council, is our industries gold standard for financial planners and is currently held by less than 300 firms across the country.
This status brings with it serious obligations to ensure the advice, service and ongoing support we provide for you is of the highest quality, based solely on your researched needs and provided by someone of appropriate competency.
 Pension & Investor Lite, is an Independent Financial Adviser firm, Directly Authorised and Regulated by the Financial Services Authority, specialising in Pensions & Investment.
We offer whole of market choice and have no links or ties to any single business or organisation.
Our aim is to provide our clients with tailored solutions, created by advisers with particular skills and specialist qualifications.
Our advice process is always to gather a full understand our clients needs, circumstances and aspirations together with detailed analysis of any existing arrangements and make written recommendations before any decisions or actions are taken.
We provide free, independent, no obligation review and recommendation reports covering all aspects of our specialist areas of work.
Knowledge is power and unless you know, how can you decide on a course of action.
We look forward to being of service.
To contact us telephone 01952 279 379 or e mail enquiries@pensionlite.co.uk
What Can You Offer Me?
We specialise in:
- Pension Release
- Investment Reviews
- Pension Reviews
- Pension Transfer
All of our services come with a no obligation process which means that you can receive an independent pension review and recommendation report before you commit to anything, or more importantly, without handing over any cash.
Are You Genuine?
Unfortunately, our dedication to providing everyone with access to information they are entitled to know without charge has led to an assumption that there must be a catch. Well, if we’re honest – there isn’t!
How Does It Work, Then?
A client is able to pay for services by a fee or by allowing a firm to receive a commission from a product or service SHOULD a transaction occur, meaning that if you decide not to proceed, you won’t have to hand over a penny to us, or anyone else.
Ironically, making decisions about your pension and retirement is one of the most stressful things you will ever have to do, which is why Pensionlite are on hand to help. How can you make informed choices without being informed? Our aim is to ensure that every single one of our clients make the most out of the pension service UK.
We believe everyone has the right to know the facts and figures about their pension and its performance. Our pension review will be carried out by an expert adviser who will obtain all of the information about your pension, including charges investment performance, benefits and rules about your scheme.
You will then see a comparison to what is available on today’s market, and a recommendation report will be provided to you, taking everything into account – even your personal views and aspirations.
Our advice on the pension service UK is usually of particular interest to people who are in any of the following situations:
- your employer has ceased trading
- you think your pension may be overpriced
- you are getting or have been divorced
- your provider is no longer selling new pensions
- your company pension is being closed
There are numerous other situations, and our advice is not limited to a select few. Whatever your circumstances, Pensionlite can help you on your way to a happy retirement.
Why Choose Pensionlite?
We are pension and retirement specialists. Don’t get caught out by not understanding your investments – receive a full pension review today, completely free of charge and with no obligation!
Knowledge is power and unless you know, how can you decide on a course of action.
To contact Pensionlite:- Telephone 01952 279 379 E mail enquiries@pensionlite.co.uk
So for Impartial Advice on pension service UK, Choose Pensionlite
Tags: free pension review, pension release advice, pension service uk
Posted in Pension Plan Advice, Pension Providers
Friday, February 18th, 2011
An annuity is a type of contract with an insurance company who ensure that you receive a guaranteed minimum payment for the rest of your life in exchange for your pension fund. Sounds simple, but unfortunately there are a wide range of pension annuities available on the market and all have different benefits.
By seeking professional pensions advice from a financial advisor, you can discuss the appropriate course of action in accordance with your individual circumstances.
 Many people do not shop around for a suitable annuity and simply opt for the one from their pension provider. It has been suggested by the UK’s Pension Regulator that our pensioners could be receiving annuity rates up to 33% less than if they simply shopped around.
Although your annuity does provide you with a stable income through a guaranteed minimum payment – it’s important to realise that this payment can fluctuate massively between different providers.
There is whole industry springing up to make claims for poor annuity advice so if you cannot be bothered to get it right at outset, now, you may well be looking for these services in a few year time.
Why not save yourself the trouble and check these things now to avoid being mis-sold :-
- Mis-sold 1. Check Impaired / enhanced rates
- Mis-sold 2. Have you been offered the Open Market Option (OMO)
- Mis-sold 3, Have you received appropriate information to help you decide whether to choose a single or joint life pension annuity?
- Mis-sold 4. Have you been offered the opportunity to protect the value of your pension annuity upon your death?
- Mis-sold 5. Been pushed into With Profit pension annuities
- Mis-sold 6. Been pushed Unit Linked pension annuities
Although in the UK we have an Open Market Option (OMO), it is thought that the majority of consumers do not know that they are entitled to look around for the best option.
This could explain the large number of pensioners settling for the poor rates offered by their current pension providers. The Pension Regulator has found that many people also choose their current provider because shopping around on the market is time consuming and complicated. At Pensionlite, our team of experts is committed to providing easy to understand advice without all the jargon in an attempt to find the best annuity rates and guaranteed minimum payment for all our clients.
Not only to annuities have different rates, there are also different types, and if you’re not confident with the terminology in the financial market, it is important you establish what is right for you before committing.
Types of Annuity
Traditionally, when entering retirement you would purchase a lifetime annuity which provides you with a guaranteed minimum payment for the rest of your life, allowing you to enjoy retirement.
The downside to this is that they are incredibly inflexible and set the interest for the whole period of annuity based on the rate at the time of purchase. Many companies will try and sell this to you as a benefit as it does protect you from any serious drops in the interest rate, but more importantly, it prevents you from experiencing the increases.
By discussing your options with a pensions specialist, you will begin to understand which is annuity is right for you. Don’t forget that although you might be enticed by a guaranteed minimum payment – all annuities offer this, just at different rates.
Pensionlite carries the prestigious status of Chartered Financial Planners.
Our Chartered status, granted by the Privy Council, is our industries gold standard for financial planners and is currently held by less than 300 firms across the country.
 This status brings with it serious obligations to ensure the advice, service and ongoing support we provide for you is of the highest quality, based solely on your researched needs and provided by someone of appropriate competency.
Pension & Investor Lite, is an Independent Financial Adviser firm, Directly Authorised and Regulated by the Financial Services Authority, specialising in Pensions & Investment.
We offer whole of market choice and have no links or ties to any single business or organisation.
Our aim is to provide our clients with tailored solutions, created by advisers with particular skills and specialist qualifications.
Our advice process is always to gather a full understand our clients needs, circumstances and aspirations together with detailed analysis of any existing arrangements and make written recommendations before any decisions or actions are taken.
The Next Question On Your Mind Is Bound To Be Around Cost?
Don’t worry, Pensionlite does not charge to investigate your current pension plan or provide you with pension release advice. When you decide if you are going to proceed, your adviser will fully inform you of any fees involved.
Knowledge is power and unless you know, how can you decide on a course of action.
We look forward to being of service.
To contact Pensionlite:-
Telephone 01952 279 379
E mail enquiries@pensionlite.co.uk
Tags: pension plan advice
Posted in Pension Options, Pension Plan Advice
Saturday, January 29th, 2011
Whenever two people divorce there will be financial consequences; after dealing with income needs, family assets will have to be considered and divided fairly. The pensions of both parties in a divorce are just as much an asset as the family home or bank account.
For example, where one spouse never worked outside the house, while the other built up valuable pension benefits, it would be unfair if this was ignored when making a financial settlement. The calculations can be complex.
Company pension schemes are usually valued at their ‘transfer value’ – the amount of money which would be transferred if the holder moved it to another company scheme. Private personal pensions are taken at their fund value. But valuing a pension fund is one thing – working out how to distribute it is quite another.
There are three ways of handling the division of pension rights in a divorce, although the third option – ‘pension splitting’ – has become the preferred option for many women.
Here’s how they all work:
Offset
When family assets are limited sometimes one partner’s need for a roof over their head means that the court will allow one partner to keep their pension and award the other partner a greater share of the family home – that is to ‘offset’ the value of the pension.
Earmarking
The court can also earmark one partner’s pension. This means that when the pension finally pays out part of the pension is reserved for the other partner. The problem with this system is that one partner has to wait for the other partner to retire before getting any money; if they choose to retire late, even for spiteful motives, you have to wait longer. And if they die before retirement, or if you remarry in the meantime, you can be left with nothing.
Pension splitting
In December 2000 the law was changed. On divorce, a spouse can now be entitled to a share of the other’s pension (whether it’s the husband or wife) in their own right. This applies to the tax-free lump sum as well.
This means that one spouse can lay immediate claim to a percentage of their partner’s pension pot and, in most cases, move the money to another fund; they will no longer have to wait around for their partner to retire. This means that there can be a cleaner break in the divorce and it allows each partner more direct control over their finances.
Independent Advice
The law allowing pension splitting was changed to avoid some of the potential disadvantages and inequalities of earmarking but left the original options in place; the issues and calculations can be complex. When emotions are running high – often the case on the breakdown of a marriage – it can be helpful to have impartial and expert advice. Contact independent financial advisers Pensionlite to have a professional review and gain guidance on your pension and divorce options. They will help you to gain the most benefit from your new pension share or to find ways to replace the share you have given up.
www.pensionlite.co.uk e mail – support@pensionlite.co.uk telephone 01952 279 379
Tags: divorce and your pension, free pension advice, Independent pension Advice
Posted in Pension Plan Advice
Tuesday, January 25th, 2011
The government has announced a number of important changes to the rules for converting pension pots into income and cash.
The new rules for those over 55 include:
- Flexible drawdown – those with secure incomes over £20,000 per year will have no limits on the income they can take.
- Funds can be inherited without IHT.
- Capped drawdown – an option to draw an income for life, with an annual limit, without having to purchase an annuity
- More flexibility to defer taking a pension and tax free cash payments past age 75
- Ending the effective compulsion to buy an annuity by age 75
The added flexibility these new rules bring is a massive boost to many BUT to take advantage experts say you need a pension fund of at least £100,000. To take full advantage a fund of nearer £200,000 is required.
With the average pension pot in the UK only being £30,000 you need to be better placed than the average investor AND make sure you are getting best value from the pensions you have, or fall short of what is on offer.
Industry pundits will tell you that a Drawdown Pension as opposed to a traditional annuity, which is what is needed to use the new flexibility, you should be looking at a pension pot of £100,000 although it is possible with smaller funds.
To have the facility to take unlimited income from your pension you first need to have a secured income of £20,000 per year in today’s terms. This money can be made up of basic state pension, state second pension and other pension income. To achieve this, taking into account a typical state pension payout, a fund of not far off £200,000 is required.
So, what can you do to try and ensure your pension pot grows to these levels?
It is quite a simple process but one most people choose not to do.
- It’s called getting your pensions reviewed.
On the face of it, the charges levied by these firms appear meagre – typically 1.5 per cent of a pension fund’s value. But number-crunching reveals the truly devastating effect such charges have over time.
It’s a fact. Greedy pension companies are siphoning off great swathes of pension money in the form of sky-high management charges.
On the face of it, the investment performance of your pension may look OK because each year you get a statement predicting the size of your fund at retirement assuming your fund grows at a rate of 5%, 7% or 9% as this is what is allowed.
It’s a fact. Many pensions, including those looked after by well known high street names, have failed to produce growth rates anywhere near these illustrated figures year after year and the difference between the best and worst pension investment funds is staggering.
The best and worst performing individual pension funds over the last 5 years show a massive difference. So do the best and worst performing ‘Balanced Managed Funds’
- Best Individual Fund (Bid – Bid price) + 212%
- Worst Individual Fund (Bid – Bid price) – 63.87% (yes minus growth)
- Best Balanced Fund (Bid – Bid) + 50.27%
- Worst Balanced Managed Fund (Bid – Bid price) -7.53% (yes minus growth)
Source – Financial Express 15/10/10
People saving for retirement should always focus on value rather than price alone. If you exclude the cost of advice, some pension plans may be cheaper, but you run the risk of making poor investment decisions and losing far more in investment returns than you would have paid in advice and charges.
For a Free, Independent, No Obligation Pension Review and Recommendation Report contact Pensionlite today.
www.pensionlite.co.uk , e mail support@pensionlte.co.uk
Telephone 01952 279 379.
Tags: personal injury help, personal pension advice, personal pension scheme
Posted in Pension Plan Advice
Saturday, December 11th, 2010
Are you looking for pension plan advice? Maybe you’re unsure which type of pension plan to go for, or perhaps you’ve recently changed employment and you want to know your options. Who better to contact than Pensionlite? We’re friendly but professional financial advisers who specialise in pensions and retirement.
 Your pension is not something to be taken lightly, it will act as your financial backbone when you are no longer earning the regular income you have relied upon from employment. Pension schemes are offered by many institutions: the government, your employer, banks, insurance companies, or you can even create your own investment. There are different types of pension plan available:
- State pension: available to anyone over the state pension age who has paid enough national insurance contributions
- Personal pension: available from companies who will invest on your behalf, you set the rules so ideal for those needing flexibility
- Company pension: available from your employer and will be made up from either your contributions, your employer’s contributions or a mixture of the two.
Whatever your choice, always make sure that you are fully aware of all your options and which will offer you the best future. If you aren’t confident about what to choose, or would just like some more information, contact Pensionlite for specialist, customised pension plan advice.
Many people don’t consider their pension until it’s too late, unlike your utility bills or bank account it’s one of those things that slips your mind, and you expect to take care of itself.
Those people with company pensions vary rarely understand their plan. They just see an amount dedicated to their pension on their wage slip. Your pension is important and does need looking after, so whether you’re just about to start a pension or you’re considering your current pension, always ensure that you receive specialist pension plan advice.
You might be surprised to hear that a pension is one of the best ways to save and invest money, mainly due to the tax relief from the government. You could receive up to 40% of your contributions if you’re a higher tax rate payer, and 20% if you pay the lower rates.
Even though pensions are an excellent way to ensure that you receive an income after retirement, some people forget about their pension plan, or ignore it because they find it daunting. You should ensure that you receive pension plan advice from a professional as early as possible.
Your financial adviser should be able to arrange a pension review with you, allowing you to keep up to date with the current economic climate, and revise your plans as necessary.
Pensionlite are professional financial advisers specialising in pensions and retirement, we are able to offer customised pension plan advice, and an annual review of your pension or investment.
Our job is to ensure that you are fully aware of your financial situation and make sure that your money is working to its full potential. Contact us today for a no obligation quotation.
Tags: advice, finacial backbone, lite, pension, pension plan advice, Pension schemes, plan, retirement, reviews
Posted in Pension Plan Advice
Saturday, October 30th, 2010
Your pension is the financial plan in place to support you when you are no longer earning a regular income from employment after retirement. Pension schemes are provided by the government, employers, insurance companies, or you can even create your own.
 It is often necessary to receive professional pension plan advice as the variety of options available can be extremely confusing. Here’s a very brief summary of the types of pension plans available.
State Pension
The state pension is paid to those over the age of state pension age, which is currently 65 for men, with a plan in place to equalise this for women by 2020. State pension is available to anyone who has qualified by paying enough National Insurance contributions whilst in employment.
Personal Pensions
These are pension plans available from banks, building societies and insurance companies who invest your savings on your behalf. The benefits to a personal pension are that you decide how much you want to invest into your fund, and you will receive tax relief on the amount you invest (up to the annual allowance).
Company Pensions
Pension schemes are often set up by employers for their staff upon retirement. These pensions will differ between each company, but your fund will be made up from your salary only, or your employer only, or a combination of the two. Your investment will benefit from tax relief up to the annual allowance.
If you’re looking to start a new pension, or perhaps you have had many different jobs and therefore multiple pensions, it is a good idea to seek pension plan advice in advance.
Many people don’t understand their pension plan, particularly company pensions, and are therefore just paying into a non-descript pot, and have no idea what happens to it from there.
A lot of people ignore their pension plan as it slips to the back of your mind as something that will take care of itself. Understandably, your main worries are your household bills, credit accounts and your savings in your bank, but your pension investment also needs looking after from time to time.
If you don’t know anything about the money you have invested over the last 20 years, or you’re looking for set up your first pension for example, it is strongly recommended that you seek professional pension plan advice.
Pensionlite are professional financial advisers who specialise in pensions and retirement and will be able to meet with you for an annual review of your pension plan, and ensure that your hard earned cash is working to its full potential.
Expert pension plan advice is fundamental to making certain that your pension is working at its best for you, and ensuring that you are receiving impartial advice.
Pensions are one of the best ways to save or invest money, as the government can pay up to 40% of your contributions if you’re a higher rate tax payer, and 20% is you pay the lower rate.
Pension can be a scary word to some people, with many forgetting about it until it’s too late to receive anadequate pay out upon retirement. You should obtain pension plan advice as early as possible, and set up a plan as soon as you can.
If you review your pension plan regularly, you can ensure that you’re up to date with the current climate and markets.
Pensionlite offer free pension plan advice, and a free no obligation pension review to service, so you have no excuses not to enquire and see what we can do for you and your future.
Tags: advice, advisers, bills, financial, Investor Lite, pension, pensions, retirement
Posted in Pension Plan Advice 2 Comments »
Wednesday, October 13th, 2010
If you have a pension and you missed Monday’s edition of Panorama on BBC1 you should make every effort to watch it on BBC iPlayer.
This programme should be compulsory viewing for everyone with a Personal Pension, Stakeholder or SIPP.
Panorama focused on the high charges and poor investment aspect of pension funds. This clearly showed that there are good and bad with HSBC, CIS and L&G coming in for particular criticism as it was illustrated that over a 40 year period those companies were taking as much as 80% of the pension contributions in charges.
 The pension of one contributor, a lady with an Equitable Life plan, it was revealed had only achieved an average investment returns over 21 years of 3% per annum and that her charges had doubled over the term.
The intimation in the programme was that poor pension returns were because pension companies were making a profit. Hardly a fair assessment, I think, as our country and our employment is funded by firms making profits.
What we do agree with is that as with other things there are good, bad and indifferent products and services for which we can pay excessively or fairly.
The truth is that our retirement provisions are very much a personal challenge and each individual should be reviewing their pensions regularly with a qualified specialist adviser to ensure they are getting value for money.
Assuming that what was good or right when you took out your pension has remained so is naïve. As with all products and services, technology and competition brings change and the trick is to embrace those changes for your own benefit.
Blaming someone else when you realise your pension will not be what you thought or were promised will not put things right.
Unfortunately, in our view, the programme missed the opportunity to give people clear direction on how they can make change for the good and instead focused on sensationalising the bad practices of a few firms and individuals.
Had they done so they would have provided a much needed public services but, who knows, perhaps next time?
www.pensionlite.co.uk
Tags: investorlite, lite, panorama, pension, pension plan advice, stakeholder
Posted in Pension Plan Advice
Saturday, September 4th, 2010
What if I die before I retire? What if I divorce? What if I change jobs? These are all questions you should ask before taking out a pension plan.
Do you really understand your pension plan or are you handing over your hard earned cash each month and just hoping for the best? It’s always worth seeking pension plan advice before you signed up to anything.
If you’re looking for pension plan advice, whether you’re looking at taking out your first pension plan or you simply want advice on your current or previous plan then making the right decision is not always easy.
We all make the wrong choices in life sometimes, but making the wrong choice when it comes to your pension plan can have a massive impact on your quality of life in your retirement.
Did you know that if you live to the age of 60 you have a 50% chance of living to the age of 92? That’s potentially over 30 years living in retirement.
That’s a long time to just ‘make do’. Planning wisely for retirement will let you continue to enjoy your current lifestyle.
People in general tend to ignore their pension plan. They will keep an eye on their utility bills, mobile phone contract, savings accounts and other such things to ensure they’re getting the best from them, but end up forgetting about their pension plan.
This is something you have to keep on top of. You really need to take the time and sit down once a year to review your pension plan. Make sure your money is working hard for you.
Getting expert advice is vital to ensure you’re making the most of your pension plan. Going to an Independent Financial Adviser (IFA) will ensure you have the most up to date information and that the advice you receive is impartial and suited to you and your circumstances.
One of the most important aspects of financial planning is planning for your retirement, absorbing future living costs. The UK is one of the worst countries in Europe for financial planning and the elderly in the UK are among the poorest. This has got to change.
Did you know pensions are one of the best methods of saving, with the government paying up to 40% of your contributions if you pay tax at the higher rate and 20% if you pay tax at the lower rate. Use these tax incentives.
A pension plan is something a lot of people tend to put off for the future, something they feel is not relevant at the moment. But it’s something you’ll definitely be glad you did. Reviewing the plan then helps keep you keep up to date with the current market.
At Pensionlite we offer expert pension plan advice. We offer a free no obligation pension review service to get you on the right path and we pride ourselves on always getting you the most suitable plan for your circumstances.
Tags: advice, adviser, investorlite, pensionlite, pensions
Posted in Pension Plan Advice
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