Personal
You must have flexibility in all aspects of your planning because your needs will change as your future earnings, career and circumstances evolve. Planning your retirement with Samuels Financial is easy. We aim to work with you over the years to ensure that your pension and investments are working for you in the best way possible. We don’t want to sell you a financial product and never speak to you again. Our strength is delivering bespoke advice with flexibility, which allows us to offer a service that is personal to you. As a result, planning your retirement with us puts you in control. So you can be confident about your future, whether you are employed or self-employed.
Employed
At Samuels Financial we have a range of plans to help provide for your retirement, no matter what stage of planning you are at. Whether you have an existing pension or are considering starting a new or supplementary one, we can provide you with specialist advice. Our team can help you to understand the implications that decisions you make now will have on your future pension arrangements, or can simply discuss if the provisions you have in place will be sufficient for your needs.
There are three types of non-State pensions; some are offered by employers and some you can start yourself. They are:
- occupational salary-related schemes
- occupational defined contribution schemes (also called money purchase pensions)
- stakeholder pensions and personal pensions
You may also be offered a group personal pension at work. These are also money purchase pensions. However, if you work for a business with less than five employees, your employer does not have to offer you access to a pension scheme, although some still do.
Self-Employed
As a self-employed person, you are not able to join occupational pension schemes or build up an entitlement to the additional state pension S2P, although you will receive the basic State Pension. It is therefore important to consider contributing to either a Stakeholder or an individual arrangement, so that you receive an income to give you security in your retirement.
Unlike employees, the self-employed do not receive any help with their pensions from an employer, they have to rely on their own resources. Indeed, you could say that the only way for the self-employed to be sure of an adequate retirement income is to start saving as early as possible. But many do not. Affordability of pension contributions can be a problem for the self-employed, especially in the early years of a business and another problem of being self-employed is that earnings can be unpredictable.
Whether you have an existing pension or are considering starting a new or supplementary one, we can provide you with specialist advice. At Samuels Financial we have a range of plans to help provide for your retirement, no matter what stage of planning you are at.
