I am very pleased with the financial advice I received. When I had some long term financial investments and pension decisions the advice I received was excellent, straight forward and accurate.

If I am in need of any other financial advice I shall have no hesitations in contacting you.

- Tom, London

McQuistin Financial is an Appointed Representative of Sesame Ltd. which is authorised and regulated by the Financial Services Authority. Sesame is entered on the FSA register (www.fsa.gov.uk/register/) under reference 150427.

Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.

McQuistin Financial pensions advice.

Stakeholder Pensions - Personal Pensions - Pension Transfers

Stakeholder pensions

What are they?

A stakeholder pension is a type of low-charge pension. You can buy a stakeholder pension from a commercial financial services company, such as a bank, insurance company or building society.

Stakeholder pensions must satisfy a number of minimum government standards to ensure that they offer value for money and flexibility.

These include:

• management charges in each year must not amount to more than the charge cap as set down by law – for people who join a stakeholder pension scheme on or after 6 April 2005 the cap is an annual management charge of 1.5% for the first 10 years, which will reduce to 1% from then onwards if these members remain in the scheme
• the stakeholder pension contract must not have charges for members transferring into or out of the stakeholder pension scheme
• all stakeholder pensions schemes must accept contributions of £20 or more, though some may accept lower payments
• stakeholder pension schemes must be run in the interest of their members, and will either have trustees or they will be run by a scheme manager
  

Personal pensions

What is a personal pension?

A personal pension is a kind of pension that you buy from a pension provider such as a bank, life assurance company or building society. It is entirely your own, which means you can continue to contribute to it if you move jobs.

It is a good idea to consider a personal pension if you:

• cannot, or do not want to, pay into an occupational pension scheme
• are self-employed
• are not working but can afford to pay for a pension

Personal pensions are money purchase schemes (also called defined-contribution or DC schemes). As with occupational money purchase schemes, the money you save is put into investments for you, such as bonds or stocks and shares. When you retire, this fund will be used to buy an annuity from an insurance company that will give you a regular income.

There are several advantages to contributing to a personal pension scheme:

• You get tax relief on your contributions up to HM Revenue & Customs limits. This broadly means that (using the basic tax rates for 2007/2008) for every £78 you pay into a personal pension, the Government adds an extra £22. And the more you save the more you get in tax relief
• You can choose to take a tax-free lump sum of up to 25% of your total pension when you retire
• You may be able to choose the funds you invest in
• Other people can pay into a personal pension on your behalf. This means that partners or other family members can help you save for your retirement
• You don’t need to be working to save in a personal pension scheme.
  

What are the benefits of a personal pension?

Flexibility is the main benefit of the personal pension plan. No matter where you work, you may continue to pay into the fund, and as your wage increases, you can alter the pension contributions. Some plans may also allow you to deposit a lump sum into the fund, or to take a payment break. In addition, you will have complete details of all the charges and fees levied on your pension fund.

How do I find out more?

If you think you would benefit from a personal pension, then you should call McQuistin Financial today. We are experts in this complicated market and will discuss your current situation and advise you on the best types of plan to suit you.

FreePhone 0800 612 1390

pension transferS

When to transfer?

The timing of a pension transfer can be critical, and we'd recommend that you shouldn't transfer your pension without consulting a pensions expert. There are several things to take into consideration when you are thinking about transferring your pension:

Why do you want to transfer?

Most people, think about transferring their pension when they are moving jobs. A majority of companies offer pension schemes. So, if you start work at a new company and join the pension scheme, what happens to your old pension?

Normally you can transfer your pension to take advantage of better rates, or better benefits than your current plan offers. Make the money you have invested work harder for you when it comes to retirement. Or, you may want to transfer your contributions to a scheme where you can continue to contribute for your working life, and ensure a continuity of benefits plus a more valuable pension when you reach retirement.

When should you transfer your pension?

Every pension transfer in the UK falls under FSA regulation, and you should only transfer your pension after you have taken independent specialist advice. The pensions market is complex and, in order to make sure that you are getting the best deal, you will need to speak to a pension transfer advisor who can give you the advice you need.

For advice on Pension fund withdrawal we act as introducers only.

FreePhone 0800 612 1390