Personal Pension Schemes

If you’re relying on your state pension to support the post-retirement lifestyle you’ve always dreamed of, then it may be time for a review. With the current state pension set at just £164.35 per week* (as at the 2018/19 tax year), this is unlikely to accommodate a retirement that fulfils all your wants and needs.

At Vintage Wealth Management, we offer Personal Pensions to clients wishing to improve their post-retirement income and quality of life.

Personal Pensions

A Personal Pension provides you with a tax-efficient savings vehicle allowing you to accrue a pool of money to be used as you wish when you come to retire.

• Available to UK residents under the age of 75
• The policyholder contributes to the plan and funds are invested
• The amount payable on retirement is dependent on how much has been paid into the plan, investment fund performance and the annuity rate on the date of retirement.

This type of plan allows you to take either an income in retirement or a reduced income and up to 25% of the fund as a tax-free lump sum.

It offers basic rate tax relief benefits but there is a limit to the amount you can contribute in any one year that can benefit from tax relief (known as the annual allowance).

Our pensions experts will walk you through everything you need to know and provide further information about the range of options available.

*The increased state pension allowance was introduced in August 2017 and applies to those who retire after April 6, 2018.