Self
Employed Pensions - Business Finance
About
Self Employed Pensions
If
you are self-employed, it is very important that you think carefully
about how to provide for your retirement. You are not included in
the additional State Pension scheme (now State Second Pension, previously
SERPS) and you have no employer to provide you with an occupational
scheme. If you want more than the basic State Pension, you will
need to join a personal pension scheme.
Where
do I start with Pensions?
You might want to consider a stakeholder
pension because by law they must meet a number of minimum standards
to make sure they offer flexibility and security. There are many
personal pensions available, but you will need to get all the facts
first. You should ask what would happen if you couldn't keep up
payments and if it would be better to pay in lump sums of money
and less often.
Paying
into a pension
You will pay your pension contributions directly to your pension
provider. You normally agree to make regular payments, usually once
a month, over an agreed period of time. Stakeholder
pensions allow you to change the amount you are paying in or pay
in lump sums without extra charges. Other personal schemes may also
let you do this, but you should check to see if there are any extra
charges for doing so.
List
of Pensions and Annuity Providers
OCIS
provide general financial information, we urge you to consult an
Independent
Financial Adviser ( IFA )
before making any important decisions about your finances. |
