A Personal Pension can be used by people wanting to ensure that they have the necessary income upon retirement.
A Personal Pension can be taken out by any UK resident under the age of 75
Commonly Personal Pensions are used by people who are Self-employed.
Usually a Personal Pension operates on the basis of Defined Contributions. In short the amount of benefit you would receive from a Personal Pension will depend on the amount you contribute to it among other factors.
Your Personal Pension would have an Investment element and the performance of this investment can have a significant effect on the income you will receive from your Personal Pension. Please contact one of our Advisers if you are seeking Pension advice.
The value of investments and the income from them can go down as well as up and you may not get back the amount originally invested