Have you got your pension plan under control?
Whether you are just starting your
working life, are an experienced and mature worker, or are
nearing retirement, management of your pension arrangements
is a real necessity.
One plan — one focus for to transfer your pension
plan
People can accumulate a number
of pension plans over the years as they move to new jobs,
yet few people know how much the plans are worth.
Well, now you can, easily, because now UK Online Finance,
in partnership with comdirect can aggregate your
entitlements in one easily understandable and manageable
package. Click on this button to open an account and get
your pension plan back under your control.
A cheap UK Online quote for your stakeholder pension scheme
Your pension plan holds your
money . . . this is YOUR money invested in YOUR pension
- it is as important as your bank account.
With the value of the state pension falling as a percentage
of national average earnings, it is vitally important to
provide for your retirement.
Although there are a number of ways to fund for your retirement
- a pension plan is still the most tax efficient.
Don't delay. Click on the button above to open an account
now. The earlier you start saving towards the retirement
- the higher your income will be when you retire —
delay can have a serious impact on the total value of your
fund.
State pension scheme entitlement
You can get a State Pension forecast telling you in
today's money the State Pension you have already earned and what you can
expect to have earned by State Pension age.
It will also include details of your additional State
Pension, if you have one. You can download the State Pension forecast application
form from The
Pension Service website, or call the Retirement Pension Forecasting Team
on 0845 3000168 and they will fill in the form with you
over the phone.
Lines are open from 9am to 5pm and calls are charged
at local rates. You can also write to them at Retirement Pension
Forecasting Team, Room TB001, Tyneview Park, Whitley Road, Newcastle upon
Tyne, NE98 1BA and ask for a forecast application and a return envelope
to be sent to you.
New Civil service pensions and stakeholder plans
This material is drawn fron the Civil
Service Pensions website. The complete reference can be found there.
"The Civil Service has introduced new pension
arrangements for all employees. These new arrangements give you more flexibility,
so that you can select one that's right for your circumstances.
Classic — The old PCSPS renamed.
This is only available to those who joined the scheme before 1st October
2002. classic is a traditional occupational final salary scheme.
It pays a pension based on 1/80th of your final pensionable
pay for each year of reckonable service, plus a tax free lump sum of three
times your pension. You contribute 1.5% of your salary towards family benefits.
* premium A new scheme, available to those joining before and after 1st October
2002.
Classic Plus — A combined
approach, open only to those joining before 1st October 2002. o Service up
to 30th September 2002 counts as classic (subject to some minor changes).
o Service from 1st October 2002 counts as premium service.
Partnership — A new arrangement,
available to those joining after 1st October 2002. The partnership pension
account is a stakeholder pension, which is a type of personal pension.
Teachers' Pensions
Teachers' Pensions administers the
scheme for teachers in England and Wales on behalf of the Department for
Education and Skills.
Their
Web pages contain information to assist scheme members, or people dealing
with the everyday responsibilities as an employer. Contact addresses and
telephone numbers for Teachers' Pensions are available on various pages
on the site.
General enquiries should be addressed to: Capita
Teachers' Pensions Mowden Hall DARLINGTON DL3 9EET.
NHS pension schemes
The information below was drawn from the NHS
pension scheme website, you can find more there.
"Most NHS workers are members of the pension scheme
but few have any idea of when they can claim it and how much it is likely
to pay them once their working lives are at an end.
Members pay a set amount of their wages in contributions
each month; some pay 5% and some 6%.
This is because when it was set up, ‘blue collar’ NHS
staff earned considerably less than ‘white collar’ employees and it was thought
fairer that lower paid workers should not have to contribute as much.
Although those distinctions may have disappeared,
the ruling remains in force. You can, if you choose, retire at 60 and apply
for your pension or you can continue working until 65 and claim it then.
The most number of year’s membership you can have in the scheme is 40. "
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