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Buyers Guide: Pensions
Newest Review: ... This makes a pension for a grandchild a very tax efficient investment. What better start can you give your new grandchild than a £3,600 gross investment into a pension plan. If you are mega rich and have oodles of money you can put this amount in, year on year until they reach 18 and become able to afford to contribute themself. The advantages to this are that the money has many, many years to grow and you will be providing for their retirement, which children are always reluctant to do until it is too late. Fund choice can be adventurous in the early years and more cautious as they get older, very flexible. There are many Stakehold... more |
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Buyers Guide: Pensions: Why should you get your granson/daughter a pension? (314 words)
by grannywoo - written on 18.01.02 (Very useful, 77 readings)
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In April last year the government introdued stakeholder pensions. The idea being to make pensions more accessable to everybody. You do not have to receive an income and you can pay on behalf of someone else. The most you can put in each tax year is £3,600 (£2,808 net payment). This can be put in as a single premium, a cheque for £2,808 or a monthly payment of £234.00 net, through your bank account. This makes a pension for a grandchild a very tax efficient investment. What better start can you give your new grandchild than a £3,600 gross investment into a pension plan. If you are mega rich and have oodles of money you can put this amount in, year on ...
Important Points (907 words)
by tommy7 - written on 10.02.01 (Very useful, 83 readings)
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The first thing when any aspect of Financial Planning is considered is to speak to an Independent Financial Adviser. Some advisors are tied to one product provider so make sure that the Advisor you speak to is Independent. This way you have access to every providers products and not just the one he is tied to. This is the most important step and one that a lot of people don't bother with. I think this is a result of the mis-selling of the 1980's. Many people view Financial Advisers in the same light as shady car salesman and this (in general) is a false perception. I would seek a Financial Adviser who is well qualified. Anyone who has a Financial Planning ...
Buyers Guide: Pensions: A different point of view (192 words)
by charlieejv - written on 09.02.01 (Useful, 50 readings)
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I would advice anyone who is chosing pension to find an INDEPENDANT FINANCIAL ADVISER, not just a FINANCIAL ADVISER, because they can only help with one companies products rather than the the whole gammit. An IFA should work on either a commission or fee basis, and be aware of all products available, (but then I would say that my Dad's an IFA) But here is another perspective, I would be interested in people's comments. Now when you get your pension out you have to pay tax as if it's a salary. So why not just spend the money you are putting in a pension into Premium Bonds(average just under 4% tax free return, and you never know you ...
