How do I get one?
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State pensions come from paying national insurance contributions. To check
out the details read the guide to state pensions. Most people in full time work
will be entitled to some form of state pension.
If you are in employment you may be eligible for membership of a company
pension scheme. If you are, and the employer makes some sort of contribution
then it is probably a sensible move to join the scheme. It is quite
extraordinary how many people simply do not bother to join. Remember if the
company asks you if you would like to join the pension scheme to which they make
contributions then it is tantamount to asking you if you would like some free
money! I'm sure you know what your answer would be to that question! Check out the company pension guide to find
out more about company pensions. Even if you are only with the company for a few
years, something is considerably better than nothing!
If you do not have a company scheme then you are eligible to take out an
individual pension (i.e. either a Personal Pension or a Stakeholder pension). In
fact even if you are in a company scheme you might still be able to take out an
individual pension (see the concurrency conditions in the individual pension
guide). If you are in any doubt then contact an Independent Financial Advisor
for professional advice.
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Get some advice!
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Pensions are complex and it is likely to be
one of the most significant financial investments of your entire life. So you do
not want to get it wrong.
If you are in any doubt (and perhaps even if
you are not) we recommend you contact a local IFA to help you out. IFAs
frequently work on a comission basis so it is unlikely to cost you a penny and
the use of an independent financial adviser does give you some protection as a
consumer.
IFAs are also specialists in providing
financial advice to individuals. They will have experience and knowledge of
pensions in general and also detailed knowledge of the products available. So
please contact an IFA and get your retirement plans in place. The earlier you
start the less painful it will be.
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Get the FREE Pension calculators from Essential Pensions.
No money, no
registration, just include one line of HTML in your web page.
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Read the guide to
investment in the pensions guide. It explains what you need to
think about before investing for your retirement.
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If you have a pensions
related question then please let us
know.
If it's something other people
would find useful then we will post an answer in our Frequently Asked Question
(FAQ) area.
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Use our online calculator
to get an estimate of your basic state pension.
Its free and
simple to use you can even include it on your own website!
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