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Our Pension Plan
analysis service can
be used to check both personal pensions and the deferred
pensions
from previous employments - the initial analysis is free.
The Benefits of a check to you
Personal Pensions and Retirement Annuity Plans
taken
out prior to April
2001
These schemes are likely to be of the "high expense"
variety common prior to the introduction of Stakeholder
pensions in 2001. Since then providers have introduced
new, lower charge, better value pensions which, on
a like-for-like basis, will provide a higher pension
at retirement.
Reducing charges can make a significant difference
to the growth of your pension fund and your final pensions
at no cost to you.
We may also take the opportunity to consider the performance
of the scheme and its suitability with regard to
your circumstances and intentions.
Typical
providers of these plans were:-
- Prudential
- Pearl
- United
Friendly
- N.P.I
- Scottish
Equitable
- Scottish
Widows
- Norwich
Union
- Refuge
- Royal & Sun
Alliance
Deferred or "Frozen" Schemes from Previous Employments
may
be either Cash Based (Money Purchase) or Salary Linked
(Defined Benefits)
Cash Based Schemes
These
too can suffer from the same high expenses and
poor performance of old-style Personal Pensions. The
size of the final "pot" is important - it
buys your pension.
Salary Linked Schemes
While the benefits of these schemes are fixed by reference
to your salary or service, they are not guaranteed
to be paid.
There are increasing concerns over the solvency
of some Employers' Occupational Schemes and an insolvent
scheme will not be able to meet in full the benefits
of its members: many pensioners have received reduced
benefits or in some cases, nothing at all.
What
do I do next?
Contact us.
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