SALARY SACRIFICE: WHAT IS IT?
|
|
- Jeffery Young
- 6 years ago
- Views:
Transcription
1 WORKPLACE SAVINGS EMPLOYER STANDARD GUIDE SALARY SACRIFICE SALARY SACRIFICE: WHAT IS IT? We ve put together a guide to help you understand what salary sacrifice is, how it works and whether it s right for you.
2 2 HOW IT WORKS. If your employer uses salary sacrifice, you could exchange part of your salary in return for a regular contribution (or non-cash benefit) from your employer. Your employer would pay this, along with any contribution they might make, directly into your pension pot. Because taxable income is reduced, you would also pay less NIC, which effectively gives you more take home pay than if normal pension deductions were taken. Please see the examples below of take home pay without pension salary sacrifice and then with salary sacrifice: WITHOUT pension salary sacrifice Employee Employer Pension Total Pension Gross pay 25,000 Tax 2,812* NIC 2, Pension contribution 1,500 (6%)** 750 (3%) 2,250 (9%) Take home pay (after tax) 18, *Allows for 300 tax relief on pension contribution. ** 1,500 gross contribution ( 1,200 net). With pension salary sacrifice Employee Employer Pension Total Pension Gross pay 23,500 Tax 2,812 NIC 1, Pension contribution Nil 2,250 (9%) 2,250 (9%) Take home pay (after tax) 18, ( 180 higher than before salary sacrifice) Figures shown are based on the 2013/2014 tax year. You should be aware that tax rates may change in the future.
3 3 The chart below shows how much you could save each year (effectively increasing your take home pay) based on different contribution levels to your pension. Your annual pension contribution: If you earn between 7,755 and 41,450*, you could save: If you earn over 41,450, you could save: 500 a year ,000 a year ,000 a year ,000 a year * If you earn less than 7,755 a year (or 646 per month) you don t pay National Insurance s (NIC), so you won t make NIC savings through salary sacrifice. OTHER BENEFITS Other benefits of using salary sacrifice may include: You could receive an increase in child tax credits. You may regain part, or all, of your entitlement to child benefit should salary sacrifice reduce your earnings assessable to tax to under 60,000. If you are a higher rate taxpayer, you benefit from immediate higher rate tax relief instead of claiming it from HM Revenue & Customs (HMRC). If you earn in excess of 100,000, you may have the chance to regain your personal allowance, depending on the size of your salary and the amount you choose to sacrifice.
4 4 YOUR SALARY SACRIFICE SCHEME. So here s how your type of salary sacrifice scheme works against the normal contribution method: Salary Sacrifice (standard) redirects your NIC savings into your salary, effectively increasing your take home pay. The diagram below helps to illustrate this. Before salary sacrifice Take home pay Income tax NIC Pension contribution After salary sacrifice Take home pay Income tax NIC Pension contribution IS SALARY SACRIFICE RIGHT FOR YOU? Salary sacrifice is not right for everyone. You should consider the following: Your entitlement to state benefits such as statutory sick pay, tax credits and the State Second Pension (S2P) could be reduced (government plans to introduce a flat rate pension by 2016 will mean that S2P will be abolished). The amount that some mortgage and money lenders will be prepared to loan you will be based on your gross earnings. Therefore, salary sacrifice could reduce the amount you can borrow. Please check with your employer, as they may use a notional salary (the pre-sacrificed amount) in such a calculation. Under HMRC rules, your gross earnings can t fall beneath the national minimum wage as a result of salary sacrifice. Your death in service benefits may be reduced (if applicable). Again, such benefits are usually based on your pre-sacrificed salary.
5 5 ADDITIONAL INFORMATION. Please also note: Pension contributions through salary and bonus sacrifice are treated as employer contributions. A salary sacrifice arrangement cannot take you below the national minimum wage. Earnings must not drop below the Lower Earnings Limit or you may lose the rights to State benefits. Your employer must agree the terms of the arrangement with you before any reduction is made. This must be documented in writing and will require you to sign and date it. Legal & General cannot advise you on whether salary or bonus sacrifice is right for you or your company. You should speak to a financial adviser for further information.
6 You may wish to consult your financial adviser(s) on any investment options. Please be aware that Legal & General do not offer or provide financial advice, and where you invest your money remains your choice. Legal & General Assurance Society Limited Registered in England No Registered office: One Coleman Street, London EC2R 5AA We are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. We are a member of the Association of British Insurers. Q /13 H139072
WORKPLACE DC PENSIONS SMART SALARY SACRIFICE: WHAT IS IT?
SMART SALARY SACRIFICE: WHAT IS IT? We ve put together a guide to help you understand what smart salary sacrifice is, how it works and whether it s right for you. 2 HOW IT WORKS. If your employer offers
More informationSALARY SACRIFICE: EMPLOYERS HANDBOOK.
WORKPLACE SAVINGS DC PENSIONS EMPLOYER GUIDE SALARY SACRIFICE: EMPLOYERS HANDBOOK. We ve put together this handbook to help clarify the technical aspects of offering salary sacrifice to your employees.
More informationTAX YEAR RATES AND ALLOWANCES 2017/2018.
WORKPLACE SAVINGS TAX YEAR RATES AND ALLOWANCES 2017/2018 1 TAX YEAR RATES AND ALLOWANCES 2017/2018. INTRODUCTION. TAX YEAR RATES AND ALLOWANCES 2017/2018 2 We know tax can be complicated so we've designed
More informationYOUR QUESTIONS ANSWERED.
PENSION FREEDOMS YOUR QUESTIONS ANSWERED. We ve put together some information to help you understand the options available if you re thinking about accessing your pension pot. This booklet should be read
More informationYOUR QUESTIONS ANSWERED.
PENSION FREEDOMS YOUR QUESTIONS ANSWERED. We ve put together some information to help you understand the options available if you re thinking about accessing your pension pot. This booklet should be read
More informationSALARY EXCHANGE ADVISER GUIDE
SALARY EXCHANGE ADVISER GUIDE This material is for use by UK Financial Advisers only. It is not intended for onward transmission to private customers and should not be relied upon by any other person.
More informationFor employers Your guide to salary sacri ce
For employers Your guide to salary sacri ce A salary sacri ce arrangement lets you enhance your employees bene t package at no extra cost to you. What is salary sacri ce? Salary sacrifice is an arrangement
More informationSmart Pensions. Questions and Answers
Smart Pensions Questions and Answers, January 2017 Contents Page 1 How does Smart Pensions work? 3 1.1 What is Smart Pensions? 3 1.2 What are the benefits of Smart Pensions? 3 1.3 How does Smart Pensions
More informationTax Year Rates and Allowances 2018/2019
Tax Year Rates and Allowances 2018/2019 Introduction We know tax can be complicated so we ve designed this document to help you understand the tax rates and allowances that apply for the 2018/2019 tax
More informationGROUP PROTECTION HELPING YOU UNDERSTAND EXCEPTED GROUP LIFE POLICIES (EGLP).
GROUP PROTECTION HELPING YOU UNDERSTAND EXCEPTED GROUP LIFE POLICIES (EGLP). 2 CONTENTS. 3 INTRODUCTION. This document gives you information about EGLP and answers the following questions: What is an EGLP?
More informationSMART and your pension. Sainsbury s Retirement Savings Plan Sainsbury s Self Invested Pension Plan. Start
SMART and your pension Sainsbury s Retirement Savings Plan Sainsbury s Self Invested Pension Plan Start What is SMART? SMART is a salary sacrifice arrangement which increases your take-home pay by reducing
More informationEMPLOYER AND ADVISER GUIDE
SALARY EXCHANGE EMPLOYER AND ADVISER GUIDE This material is for use by UK Financial Advisers and Employers only. It is not intended for onward transmission to private customers and should not be relied
More informationYOUR GUIDE TO PENSION TRANSFERS INFORMED.
YOUR GUIDE TO PENSION TRANSFERS INFORMED. This guide is all about the things you need to think about if you re considering transferring your pension. It s about helping you to weigh up the pros and the
More informationWorkplace Pensions. Workplace pensions. Freedom and choice. The options for taking money from your pension plan.
Workplace pensions Freedom and choice The options for taking money from your pension plan. 1 Taking your pension savings The options in summary Pension plans are designed to provide an income in later
More informationGroup stakeholder pension scheme KEY FEATURES. Key Features of the. This is an important document which you should keep in a safe place.
Group stakeholder pension scheme KEY FEATURES Key Features of the WORKSAVE PENSION PLAN. 1 This is an important document which you should keep in a safe place. 2 WORKSAVE PENSION PLAN KEY FEATURES CONTENTS
More informationSCOTTISH INCOME TAX AND PENSION CONTRIBUTIONS
TECHTALK This article originally appeared in JULY 18 edition of techtalk. Please visit www.scottishwidows.co.uk/techtalk for the latest issue. SCOTTISH INCOME TAX AND PENSION CONTRIBUTIONS What do the
More informationThe benefits of... implementing salary exchange for your business and your employees
The benefits of... implementing salary exchange for your business and your employees What is salary exchange? Salary exchange, also commonly referred to as salary sacrifice or smart pay, is an arrangement
More informationPENSIONS SUMMARY IMPACT
SUMMARY IN A VERY QUIET BUDGET, THE MAIN ISSUES AFFECTING THE FINANCIAL SERVICES INDUSTRY HAD ALREADY BEEN ANNOUNCED, SUCH AS THE CPI-LINKED INCREASE IN THE LIFETIME ALLOWANCE. THE DETAILS AND OPPORTUNITIES
More informationPENSIONS SUMMARY IMPACT FOR EMPLOYER USE ONLY
FOR EMPLOYER USE ONLY SUMMARY IN A VERY QUIET BUDGET, THE MAIN ISSUES AFFECTING THE FINANCIAL SERVICES INDUSTRY HAD ALREADY BEEN ANNOUNCED, SUCH AS THE CPI-LINKED INCREASE IN THE LIFETIME ALLOWANCE. PENSIONS
More informationGroup Protection. Helping you understand Excepted Group Life Policies (EGLP)
Group Protection Helping you understand Excepted Group Life Policies (EGLP) Group Protection a helpful guide to excepted group life policies 2 Contents 3 Introduction 4 The different types of group life
More informationADDING TO YOUR PLAN ABOUT THIS DOCUMENT. WHAT IS THE PLAN? MANAGING YOUR PLAN. PERSONAL PENSION NO.1 PLAN AND GROUP PERSONAL PENSION NO.
PERSONAL PENSION NO.1 PLAN AND GROUP PERSONAL PENSION NO.1 PLAN ADDING TO YOUR PLAN ABOUT THIS DOCUMENT. This document gives you the important information you need when making additional contributions
More informationWORKPLACE SAVINGS GUIDE
WORKPLACE SAVINGS GUIDE START HERE. We understand that pensions can be confusing and difficult to understand. That s why we ve created this guide, to explain to you how they work and why they re so important
More informationTaking money from my pension. A guide to taking cash sums and a flexible income from your Legal & General pension pot.
Taking money from my pension A guide to taking cash sums and a flexible income from your Legal & General pension pot. Workplace DC Pensions Contents 3 INTRODUCTION 4 OPTIONS 6 THINGS TO CONSIDER 7 TAX
More informationADDING TO YOUR PLAN ABOUT THIS DOCUMENT. WHAT IS THE PLAN? MANAGING YOUR PLAN. PERSONAL PENSION 2000 PLAN
PERSONAL PENSION 2000 PLAN ADDING TO YOUR PLAN ABOUT THIS DOCUMENT. This document gives you the important information you need when making additional contributions or transferring the value of other pension
More informationPENSION PLANNING FOR HIGH EARNERS: A GUIDE TO INCOME DEFINITIONS
PENSION PLANNING FOR HIGH EARNERS: A GUIDE TO INCOME DEFINITIONS ADVISING HIGH INCOME INDIVIDUALS Here are two figures that high income individuals might be particularly interested in: 100,000 The personal
More informationfrom MY PENSION PLAN?
WORKSAVE PENSION PLAN EXAMPLE ILLUSTRATIONS. WHAT might I GET back from MY PENSION PLAN? WORKSAVE PENSION PLAN 1 2 WORKSAVE PENSION PLAN Please make sure that you read this document together with the WorkSave
More informationKEY FEATURES OF THE GROUP PERSONAL PENSION PLAN
KEY FEATURES OF THE GROUP PERSONAL PENSION PLAN The Financial Conduct Authority is a financial services regulator. It requires us, Royal London, to give you this important information to help you to decide
More informationWORKSAVE PENSION MASTERTRUST
WORKSAVE PENSION MASTERTRUST 1 company guide. This guide aims to give you an understanding of how Legal & General s WorkSave Pension Mastertrust can help you provide a cost efficient, flexible and valued
More informationCustomer Guide Prudence Inheritance Bond
Customer Guide Prudence Inheritance Bond Prudence Inheritance Bond Inheritance tax might be called the voluntary tax as there is much that you can do to reduce it or not pay it at all. Inheritance Tax
More informationSTAKEHOLDER PENSION PLAN ADDING TO YOUR PLAN
STAKEHOLDER PENSION PLAN ADDING TO YOUR PLAN 2 STAKEHOLDER PENSION PLAN ADDING TO YOUR PLAN ABOUT THIS DOCUMENT. This document gives you the important information you need when making additional contributions
More informationTHE AURUM COMPANY PENSION GROUP PERSONAL PENSION. A guide to help you prepare for the retirement you want
THE AURUM COMPANY PENSION GROUP PERSONAL PENSION A guide to help you prepare for the retirement you want Your AURUM company pension is provided by Scottish Widows. SUPPORTING LITERATURE AND TOOLS TO HELP
More informationWORKSAVE PENSION MASTERTRUST COMPANY GUIDE.
COMPANY GUIDE. This guide aims to give you an understanding of how Legal & General s WorkSave Pension Mastertrust can help you provide a cost efficient, flexible and valued workplace pension scheme for
More informationA GUIDE TO INCOME DRAWDOWN.
PORTFOLIO PLUS PENSIONS A GUIDE TO INCOME DRAWDOWN. FOR USE WITH: PORTFOLIO PLUS PENSION PORTFOLIO PLUS SELF INVESTED PERSONAL PENSION This is an important document that you should retain. PORTFOLIO PLUS
More informationCHANGES TO EMPLOYER SUPPORTED CHILDCARE FROM APRIL 2011
CHANGES TO EMPLOYER SUPPORTED CHILDCARE FROM APRIL 2011 GUIDANCE FOR EMPLOYEES AND PARENTS Introduction From April 2011 there will be changes to Employer Supported Childcare that will affect some employees.
More informationTAILOR-MADE. Our highly flexible SSAS pensions offer a wide variety of investment opportunities, giving you choice and control of your pension.
SMALL SELF ADMINISTERED SMALL SELF SCHEME ADMINISTERED (SSAS) SCHEME TECHNICAL (SSAS) GUIDE TECHNICAL GUIDE 1 TAILOR-MADE. Our highly flexible SSAS pensions offer a wide variety of investment opportunities,
More informationFor adviser use only. Not approved for use with customers. Relevant Life Insurance Introducing Relevant Life Insurance
For adviser use only. Not approved for use with customers. Relevant Life Insurance Introducing Relevant Life Insurance Introducing Relevant Life Insurance We ve designed Relevant Life Insurance specifically
More informationAUTO ENROLMENT: STEP BY STEP PLANNING AHEAD.
AUTO ENROLMENT: STEP BY STEP PLANNING AHEAD. With auto enrolment underway, employers must now automatically enrol eligible employees into a qualifying pension scheme. We want to support you through this
More informationGROUP PERSONAL PENSION WITH SALARY SACRIFICE. A guide to help you prepare for the retirement you want
THE GRANT THORNTON UK LLP GROUP PERSONAL PENSION PLAN GROUP PERSONAL PENSION WITH SALARY SACRIFICE A guide to help you prepare for the retirement you want Your Grant Thornton company pension is provided
More informationKEY FEATURES OF THE RETIREMENT SOLUTIONS GROUP STAKEHOLDER PENSION PLAN
KEY FEATURES OF THE RETIREMENT SOLUTIONS GROUP STAKEHOLDER PENSION PLAN The Financial Conduct Authority is a financial services regulator. It requires us, Royal London, to give you this important information
More informationKEY FEATURES. RDR. This is an important document that you should read and keep in a safe place. You may need to read it in the future.
RDR PORTFOLIO PLUS PENSION KEY FEATURES portfolio plus pension 1 KEY FEATURES. This is an important document that you should read and keep in a safe place. You may need to read it in the future. 2 PORTFOLIO
More informationMEMBER S SIPP BOOKLET YOUR GUIDE TO THE SAINSBURY S SELF INVESTED PENSION PLAN (SAINSBURY S SIPP).
MEMBER S SIPP BOOKLET YOUR GUIDE TO THE SAINSBURY S SELF INVESTED PENSION PLAN (SAINSBURY S SIPP). June 2017 1 Introduction. About this guide This guide gives an overview of the Sainsbury s Self Invested
More informationOver 50s Life Insurance More than a memory
Over 50s Life Insurance More than a memory Put what you can in place for those you care about. Whether it s to help contribute towards the costs of your funeral, or simply as a gift that could help make
More informationConsidering surrendering your plan?
IMPORTANT INFORMATION This information may be downloaded to your PC in whole or in part provided that any reproduction or copy, or any derivative, is true to the original, and it is EITHER used for personal
More informationKey Features of the Money Purchase Plan
Key Features of the Money Purchase Plan Please read this document along with your personal illustration (if you have one) before you decide to buy this plan. It s important you understand how Money Purchase
More informationKEY FEATURES. FIXED TERM RETIREMENT PLAN
1 KEY FEATURES OF OUR FIXED TERM RETIREMENT PLAN FIXED TERM RETIREMENT PLAN KEY FEATURES. For customers who are not receiving financial advice. This is an important document that you should keep in a safe
More informationFLEXI-ACCESS DRAWDOWN MEMBER S GUIDE.
Personal Pension Plan No.1 (PPNo.1), Group Personal Pension Plan No.1 (GPPNo.1) and Buy Out Plan (BOP) FLEXI-ACCESS DRAWDOWN MEMBER S GUIDE. This is an important document that you should read and keep
More informationKey Features of the Group Stakeholder Pension Scheme. This is an important document which you should keep in a safe place.
Key Features of the Group Stakeholder Pension Scheme This is an important document which you should keep in a safe place. Welcome to your Key Features Document. It explains all the important information
More informationKEY FEATURES OF LEGAL & GENERAL S PENSION ANNUITY.
PENSION ANNUITIES KEY FEATURES OF LEGAL & GENERAL S PENSION ANNUITY. HELPING YOU MAKE THE RIGHT DECISIONS FOR YOUR FUTURE This is an important document that you should keep in a safe place. 02 KEY FEATURES
More informationA GUIDE TO YOUR LEGAL & GENERAL PENSION AND LIFE ASSURANCE SCHEME. EMPLOYEE BENEFIT: PENSION AND LIFE ASSURANCE
A GUIDE TO YOUR LEGAL & GENERAL PENSION AND LIFE ASSURANCE SCHEME. EMPLOYEE BENEFIT: PENSION AND LIFE ASSURANCE 2 INTRODUCTION. As an employee of Legal & General you are able to become a member of our
More informationTHE BENEFIT OF SACRIFICE
TECHTALK This article originally appeared in MAY 18 edition of techtalk. Please visit www.scottishwidows.co.uk/techtalk for the latest issue. THE BENEFIT OF SACRIFICE Following changes announced in 2016
More informationKEY FEATURES OF LEGAL & GENERAL S PENSION ANNUITY.
PENSION ANNUITIES KEY FEATURES OF LEGAL & GENERAL S PENSION ANNUITY. HELPING YOU MAKE THE RIGHT DECISIONS FOR YOUR FUTURE This is an important document that you should keep in a safe place. 02 KEY FEATURES
More informationPERSONAL INVESTMENT PLAN YOUR GUIDE TO MAKING WITHDRAWALS. For plans opened since 28th June 2010 provided by Halifax Financial Services
PERSONAL INVESTMENT PLAN YOUR GUIDE TO MAKING WITHDRAWALS For plans opened since 28th June 2010 provided by Halifax Financial Services PAGE 1 INTRODUCTION PAGE 2 THINGS TO THINK ABOUT PAGE 3 CHARGEABLE
More informationFLEXIBLE MORTGAGE ISA PLAN KEY FEATURES. FOR AN ADDITIONAL PLAN. This is an important document. Please keep safe for future reference.
FLEXIBLE MORTGAGE ISA PLAN KEY FEATURES. FOR AN ADDITIONAL PLAN. This is an important document. Please keep safe for future reference. 2 FLEXIBLE MORTGAGE ISA PLAN KEY FEATURES FOR AN ADDITIONAL PLAN ABOUT
More informationKey Features for salary sacrifice members of the Prudential Group Personal Pension Plan
Key Features for salary sacrifice members of the Prudential Group Personal Pension Plan Please read this document along with your personal illustration (if you have one) before you decide to buy this plan.
More informationACCESSING YOUR PENSION POT.
STAKEHOLDER PENSION PLAN ACCESSING YOUR PENSION POT. We ve put together some information to help you understand the options available to you and things you need to consider. You should think about this
More informationINDIVIDUAL PERSONAL PENSION
Pensions UPDATE OF IMPORTANT FACTS ABOUT YOUR INDIVIDUAL PERSONAL PENSION We ve changed the name of the CIS Individual Personal Pension Scheme to the Royal London Individual Personal Pension Scheme (No3)
More informationFlexible and voluntary benefits. A guide to flexible and voluntary benefits.
A guide to flexible and voluntary benefits. 1. Introduction Employees have different lifestyles and needs. As they move through their working lives, these are likely to change. Flexible and voluntary benefits
More informationTRANSFER APPLICATION FORM.
PERSONAL PENSION SCHEME NO.1 TRANSFER APPLICATION FORM. This application is to be used only for transferring other pensions to an existing Personal Pension Scheme No.1 plan. This application can only be
More informationInformation about tax relief, limits and your pension
Information about tax relief, limits and your pension Contents 01 Before we begin 02 What type of pension do I have? 03 What are the tax benefits to having a pension? 04 How are the tax benefits applied?
More informationKey Features of the Prudential Personal Pension Scheme
Key Features of the Prudential Personal Pension Scheme Please read this document along with your personal illustration (if you have one) before you decide to buy this plan. It's important you understand
More informationRELEVANT LIFE PLAN PUT LIFE COVER ON EXPENSES.
PUT LIFE COVER ON EXPENSES. Our Relevant Life Plan is a costefficient way of offering life cover to you or your employees. It s tax efficient and, in most cases, premiums can be treated as an allowable
More informationACCESSING YOUR PENSION POT.
PERSONAL PENSION NO.1 GROUP PERSONAL PENSION NO.1 ACCESSING YOUR PENSION POT. We ve put together some information to help you understand the options available to you and things you need to consider. You
More informationSummary Tax Liabilities for Bonds and Collectives
For Adviser use only not approved for use with clients Adviser Guide Summary Tax Liabilities for Bonds and Collectives > Income Tax > Capital Gains Tax > Corporation Tax Tax Year 2017/2018 The value of
More informationNOTIFICATION BONUS. We offer 5% cashback on your Group Income Protection premium for helping your employees return to work quicker.
GROUP INCOME PROTECTION WORKPLACE RECOVERY EARLY NOTIFICATION BONUS. We offer 5% cashback on your Group Income Protection premium for helping your employees return to work quicker. GROUP INCOME PROTECTION
More informationKey Features of the Stakeholder Pension. For plans started on or after 1 February Retirement Investments Insurance Health
Key Features of the Stakeholder Pension For plans started on or after 1 February 2008 Retirement Investments Insurance Health Key Features of the Stakeholder Pension The Financial Conduct Authority is
More informationHow does the annual allowance work? LET S TALK HOW.
How does the annual allowance work? LET S TALK HOW. IN THIS GUIDE WE COVER: ANNUAL ALLOWANCE Pensions are a tax-efficient way to save for your retirement but the amount of tax relief you receive on your
More informationKey Features of the Group Personal Pension 2000 Plan. This is an important document which you should keep in a safe place.
Key Features of the Group Personal Pension 2000 Plan This is an important document which you should keep in a safe place. Welcome to your Key Features Document. It explains all the important information
More informationKey Features of the Stakeholder Pension Plan
Key Features of the Stakeholder Pension Plan The Financial Conduct Authority is a financial service regulator. It require us, Police Mutual, to give you this important information to help you to decide
More informationKEY FEATURES OF THE RETIREMENT SOLUTIONS GROUP PERSONAL PENSION PLAN
KEY FEATURES OF THE RETIREMENT SOLUTIONS GROUP PERSONAL PENSION PLAN The Financial Conduct Authority is a financial services regulator. It requires us, Royal London, to give you this important information
More informationBuilding up extra savings. A guide to additional voluntary contributions (AVCs) in the Local Government Pension Scheme (LGPS)
Building up extra savings A guide to additional voluntary contributions (AVCs) in the Local Government Pension Scheme (LGPS) AVCs a summary Build up extra savings for retirement with an AVC Flexible contributions
More informationInformation about tax relief, limits and your pension
Information about tax relief, limits and your pension Contents 03 Before we begin 04 What type of pension do I have? 05 What are the tax benefits to having a pension? 06 How are the tax benefits applied?
More informationPERSONAL INVESTMENT PLAN YOUR GUIDE TO MAKING WITHDRAWALS. For plans opened since 28th June 2010 provided by Halifax Financial Services
PERSONAL INVESTMENT PLAN YOUR GUIDE TO MAKING WITHDRAWALS For plans opened since 28th June 2010 provided by Halifax Financial Services PAGE 1 INTRODUCTION PAGE 2 THINGS TO THINK ABOUT PAGE 3 CHARGEABLE
More informationTransfer guide. Combining your pensions with Zurich
Transfer guide Combining your pensions with Zurich This guide describes the potential benefits of you transferring the value of a pension to your current pension with Zurich and the things you should think
More informationBuy for Uni. Graduate with a home as well as a degree. Talk to. with our Buy for Uni mortgage
Buy for Uni Graduate with a home as well as a degree with our Buy for Uni mortgage Concerned about paying high rent for poor accommodation while you study? Talk to The Loughborough has a solution that
More informationKey Features of the Prudential Stakeholder Pension Plan
Key Features of the Prudential Stakeholder Pension Plan Please read this document along with your personal illustration (if you have one) before you decide to buy this plan. It s important you understand
More informationSTATE STREET UK GROUP PERSONAL PENSION SCHEME A guide to help you prepare for the retirement you want
STATE STREET UK GROUP PERSONAL PENSION SCHEME A guide to help you prepare for the retirement you want SUPPORTING LITERATURE AND TOOLS TO HELP YOU MAKE DECISIONS ABOUT YOUR COMPANY PENSION LITERATURE Key
More informationRETIREMENT ACCOUNT YOUR GUIDE. Supporting you to and through retirement
RETIREMENT ACCOUNT YOUR GUIDE Supporting you to and through retirement PAGE 3 CHOOSING SCOTTISH WIDOWS PAGE 4 CHOOSING RETIREMENT ACCOUNT PAGE 5 OVERVIEW RETIREMENT ACCOUNT AND FEATURES PAGE 6 WHAT MAKES
More informationKEY FEATURES OF LEGAL & GENERAL S PENSION ANNUITY.
PENSION ANNUITIES KEY FEATURES OF LEGAL & GENERAL S PENSION ANNUITY. HELPING YOU MAKE THE RIGHT DECISIONS FOR YOUR FUTURE This is an important document that you should keep in a safe place. 02 KEY FEATURES
More informationA Guide to. Retirement Planning. Developing strategies to accumulate wealth in order for you to enjoy your retirement years
A Guide to Retirement Planning Developing strategies to accumulate wealth in order for you to enjoy your retirement years 02 Welcome A Guide to Retirement Planning Welcome to A Guide to Retirement Planning.
More informationACCESSING YOUR PENSION POT.
BUY OUT PLAN ACCESSING YOUR PENSION POT. We ve put together some information to help you understand the options available to you and things you need to consider. You should think about this information
More informationKEY FEATURES OF THE RETIREMENT SOLUTIONS GROUP STAKEHOLDER PENSION PLAN
KEY FEATURES OF THE RETIREMENT SOLUTIONS GROUP STAKEHOLDER PENSION PLAN The Financial Conduct Authority is a financial services regulator. It requires us, Royal London, to give you this important information
More informationAims of this guide. Further Information. Glossary
Your With-Profits Plan a guide to how we manage the Fund Unitised With-Profits Plans originally issued by Scottish Amicable Life Assurance Society (SALAS) Your With-Profits Plan is a medium to long term
More informationMARCH 2016 BUDGET. The annual allowance for high earners will be reduced to between 10,000 and 40,000 - the tapered annual allowance (see below).
MARCH 2016 BUDGET SUMMARY After months of press speculation about a possible fundamental change to the pension tax regime, no further significant changes were announced. However, there were some technical
More informationKey Features of the Prudential Stakeholder Pension Plan for Salary Sacrifice Schemes only
Key Features of the Prudential Stakeholder Pension Plan for Salary Sacrifice Schemes only Please read this document along with your personal illustration (if you have one) before you decide to buy this
More informationYour guide to pension transfers. About this guide
Informed This guide has all the things you need to think about if you re considering transferring your pension to Legal & General. It s designed to help you weigh up the pros and the cons so you can make
More informationThinking of cashing-in your Plan? Please think about the alternatives first
Thinking of cashing-in your Plan? Please think about the alternatives first We know you re thinking about cashing-in your plan, but before you go ahead you may want to consider some other choices. Please
More informationImportant document please read. Stakeholder Pension
Important document please read Stakeholder Pension Key Features of the Stakeholder Pension The Financial Services Authority is the independent financial services regulator. It requires us, Wesleyan Assurance
More informationKEY FEATURES OF THE COMPANY PENSIONBUILDER PLAN. Important information you need to read
KEY FEATURES OF THE COMPANY PENSIONBUILDER PLAN Important information you need to read THE FINANCIAL CONDUCT AUTHORITY IS A FINANCIAL SERVICES REGULATOR. IT REQUIRES US, SCOTTISH WIDOWS, TO GIVE YOU THIS
More information> What's a with-profits plan? > How does our With-Profits Fund work? > What are bonuses? > How are regular bonuses worked out?
Your With-Profits Plan a guide to how we manage the Fund Conventional With-Profits Plans originally issued by Scottish Amicable Life Assurance Society (SALAS) Your With-Profits Plan is a medium to long-term
More informationKey features of the Immediate Life Annuity
Key features of the Immediate Life Annuity Key features of the Immediate Life Annuity The Financial Conduct Authority is a financial services regulator. It requires us, Aviva, to give you this important
More informationMaking pension tax relief work for you. LET S TALK HOW.
Making pension tax relief work for you. LET S TALK HOW. TAX RELIEF The idea behind tax relief is to encourage people to save for retirement. In allowing pension tax relief, the value of your savings for
More informationKey Features of the WorkSave Pension Plan. This is an important document which you should keep in a safe place.
Key Features of the WorkSave Pension Plan This is an important document which you should keep in a safe place. Welcome to your Key Features Document. It explains the important information you need to know
More informationHuman Resources. Benefits + Helping you make the most of your take home pay
Human Resources Benefits + Helping you make the most of your take home pay Benefits + Contents Introduction Introduction 3 Pensions + 4 Childcare + 13 Bus + 16 Parking + 20 1 Pic & contents Welcome to
More informationABSOLUTE RETURN FUNDS FUND GUIDE
ABSOLUTE RETURN FUNDS FUND GUIDE Absolute Return funds aim to produce a positive return in all market conditions. This guide explains how they try to do this and the risks involved. 2 This guide is part
More information> What's a with-profits plan? > How does our With-Profits Fund work? > What are bonuses? > How are regular bonuses worked out?
Your With-Profits Plan a guide to how we manage the Fund Unitised With-Profits Plans originally issued by Scottish Amicable Life Assurance Society (SALAS) Your With-Profits Plan is a medium to long-term
More informationA plan for every business
A plan for every business With 99.9% of the UK s businesses being SMEs and more than half of these having no protection in place, there s an opportunity for your business. We ve produced this guide to
More informationEXCEPTED GROUP LIFE POLICY TERMS AND CONDITIONS.
GROUP PROTECTION EXCEPTED GROUP LIFE POLICY TERMS AND CONDITIONS. ABOUT THESE TERMS AND CONDITIONS. This document and our quote describe the Excepted Group Life Policy terms and conditions for employers
More informationCOLOUR JOB LOCATION: PRINERGY
HSBC Help to Buy ISA 2 Contents Page What is a Help to Buy: ISA? 3 How does it work? 4 Key product information 5 Am I eligible? 6 Bonus payment 7 Ready to apply? 8 What happens next? 9 Important information
More informationYOUR COMPANY PENSION GROUP PERSONAL PENSION. A guide to help you prepare for the retirement you want
YOUR COMPANY PENSION GROUP PERSONAL PENSION A guide to help you prepare for the retirement you want WELCOME TO YOUR SCOTTISH WIDOWS WORKPLACE PENSION Everyone needs a plan for their retirement. This guide
More informationKEY FEATURES OF THE WORKSAVE PENSION PLAN.
GROUP STAKEHOLDER PENSION SCHEME KEY FEATURES KEY FEATURES OF THE WORKSAVE PENSION PLAN. 1 This is an important document which you should keep in a safe place. 2 WORKSAVE PENSION PLAN KEY FEATURES CONTENTS
More information