PENSIONS

The Governments review of both state and private pension has led to a significant change in the rules governing pensions and the introduction of what is known as Stakeholder Pensions.
You can have a pension if you are:

Employed	Employer does not offer a pension scheme
Employed	Not a member of company scheme
Employed	Member of company scheme, but earning less than Ł30,000 pa
Self-employed	Tax relief immediately available up to Ł300 per month
A Homemaker
Unemployed
A Child
A Fixed contract worker

Provided you can contribute or somebody can contribute on your behalf, are under 75 years of age, and are resident and ordinarily resident in the UK.

Something that has not changed is that pensions are still very tax–efficient, with tax relief on contributions available at your highest rate.

Most contributions are paid net of basic rate tax so if you pay Ł78, the actual amount invested in your pension is Ł100. A higher rate taxpayer can claim back an additional Ł18 so that the actual contribution is just Ł60.

In making pension arrangements, it is important to chose the right company, plans and funds. Anthony Chambers can assist in ensuring that the arrangement you make is suitable for you.

Assumptions on tax relief are based on current legislation, and this may be subject to change in the future.

Anthony Chambers Limited (registration no 3985717) is an Appointed Representative of Financial Solutions 2000 Ltd, 136 High Street, West Wickham, Kent, BR4 0LZ, which is authorised and regulated by the Financial Services Authority

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