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Pensions
Grosvenor Beaumont
Financial Services Limited provides Pension
advice with its Principal also a Principal in Global Finnet Limited
(London). It is authorized and regulated by the Financial Services
Authority. Registered in England and Wales No. 5610811.
Jeff Barnes Cert PFS Cert CII(MP) PMA is the
Principal.
You may not realize the number of
financial companies that are out there and the vast array of products
that they have on offer at any one time. Many of the best performing
products and much of the latest financial information is only available
to those within the industry. Our role is to ensure you have access to
the product that is best for you and your circumstances.
Pensions are, of course, designed to enable you
to save sufficient money to live comfortably after you have retired from
work. There are many different 'tools' used to save for retirement and
the taxation and investment elements of pensions can appear baffling.
We/I specialize in explaining , recommending and monitoring pensions for
you. Below are the most common sources of pension to fund for your
retirement.
*The Basic State
Pension - for people who have paid sufficient National Insurance
contributions while at work or have been credited with enough
contributions.
*Additional State Pension - this is now the State Second Pension (S2P).
Before 6 April 2002, it was known as SERPS (State Earnings Related
Pension Scheme). From 6 April 2002, SERPS was reformed to provide a more
generous additional State Pension for low and moderate earners, careers
and people with a long term illness or disability. The reformed
additional State Pension is known as the State Second Pension. State
Second Pension is based upon earnings on which standard rate Class 1
National Insurance contributions are paid or treated as having been
paid. Additional State Pension is not available in respect of self
employed income.
*An Occupational Pension (through an employer pensions scheme) - if your
employer operates a pensions scheme, it's usually a good idea to find
out about the benefits of the scheme.
*A Personal Pensions
Scheme (including Stakeholder schemes) - open to nearly everyone and
especially useful if you are self-employed or your employer doesn't run
a company scheme.
State Pensions may not produce the same level of income that you will
have been accustomed to whilst working. The full Basic State Pension is
only £87.30 per week (2007/08) for a single person (though you would be
able to claim means-tested state benefits if that was your only income).
It's important to start thinking early about how best to build up an
additional retirement fund. You're never too young to start a pension -
the longer you leave it the more you will have to pay in to build up a
decent fund in later life.
Our role is to ensure you have access to the product that is best for
you and your circumstances.
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