padraig
Apprentice
Joined: 03 Oct 2006
Posts: 9
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 Posted: 10/22/07 - 03:57 Post subject: |
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| As a self-employed person you now have a liberty to determine contributions for any pension scheme you choose. Thinking about getting other pension besides the state pension is a wise decision. Before you choose a pension plan determine how much money would you need after retirement because it would be easier to know what to look for. It would be good if you know at what age you would probably retire, how much would you get from the state pension, property issues etc. It all sets your outcome n the future. You can arrange a personal pension scheme which means that you can make contributions or pay lump sum to get it. Notice that you would receive a tax relief. A stakeholder pension is when you invest money and you can receive certain interest but you have to qualify. Stakeholder pension schemes are very flexible and should be very useful. You didn't mention if you had joined a company pension scheme on your previous job, so if you were count that pension too. alternatives are also self-invested personal pension, insured personal pension buying a life annuity etc. When you collect all the information about your financial status and expectations it would be easy to choose a proper pension scheme. |
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