Personal Pensions
With this type of pension the money you save into your pension plan is invested and then used at retirement. So, the more you save, the better your pension should be at retirement.
When you retire, you purchase pension benefits using the money in your personal pension. These can be taken as either income, or income with a tax-free lump sum (the tax-free cash lump sum is known officially as he Pension Commencement lump sum).
The benefits can also be transferred to a plan which offers hat are called ‘unsecured pension benefits’ (see the section on Flexi-Access and Capped Drawdown). This type of plan lets you use the benefits whilst your pension fund is still being invested.
Your pension can be protected against inflation too. You can also protect your income in the event of your death (see the Annuities page).
Please note that pension benefits can be drawn from age 55 onwards.
The value of your investment can go down as well as up and you may not get back the full amount you invested. Past performance is not a reliable indicator of future performance. Investing in shares should be regarded as a long-term investment and should fit in with your overall attitude to risk and financial circumstances.
Andy Setten, Worthing
Really helped me plan the next 5 years
Your help going through my Investments and Pensions and your advice concerning the future really helped me plan the next 5 years. As I mentioned I am extremely grateful to you and all at Pembroke for all your good advice over the last 15 years or so which has certainly borne fruit.
Mr W Fenton, Hove
Friendly and efficient
I have always found Pembroke friendly and efficient.
