Company and occupational pension scheme

Occupational pension schemes – Occupational pension schemes are overseen by the Pensions Regulator and have trustees who ensure their proper and lawful operation. There are various types of company and occupational pension schemes available.

Final salary pension schemes – Known as defined benefit schemes, you and/or your employer will contribute monthly to your pension fund. When you retire, in addition to your state pension (where applicable), you will receive a monthly pension based on your earnings and years of pensionable employment.

Defined contribution pension schemes – Also referred to as a “money purchase” scheme, monthly contributions are deposited into a personal fund designated for the employee. Upon retirement, the accumulated fund can be utilised to provide income.

You have the choice to receive a portion of the fund as a tax-free lump sum when you retire. For smaller funds, it is possible to withdraw the entire amount, although only 25% is tax-free. This sum can be used for a special retirement indulgence or, more commonly, to purchase an annuity that offers additional financial security during retirement.

Pensions for self-employed, partnerships, directors and executives – We provide free initial advice on pension solutions specifically designed for non-employees. Whether you’re interested in personal pensions, stakeholder pensions, or any other investment or pension scheme.