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.
Nick Briggs, East Sussex
I absolutely recommend their approach and service
I am very happy with the service that I have received from Pembroke Financial Services on the transfer of my pension from a final salary scheme to a personal pension. I found that Frances was knowledgeable, thorough, and a very clear communicator eliminating jargon. The Pembroke process that was followed including support systems with risk and cash flow analysis allowed a rigorous fact based recommendation about what I needed to do. I absolutely recommend their approach and service.
Mrs H, Brighton
Exceeded any expectations we had
I received very prompt, easy to understand information with reference to my position as Power of Attorney for my Downs Syndrome brother regarding a query to transfer his pension to a ‘Drawdown Pension’ to allow funds to be accessed, above and beyond his regular payments, for private health care if government care is insufficient. I received a detailed email laying out important points to consider and suggestions to contact official bodies to acquire clarification. David provided a level of service which exceeded any expectations we had, given our other dealings with financial advisers, and my family and I are extremely grateful.
