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Understanding the Concept of Pension in Details

Study the concept of pension planning, pros and cons and its importance. Also know the types of pension that helps in constructing the financial plan for retirement which is beneficial for saving your future.

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Understanding the Concept of Pension in Details

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  1. UNDERSTANDING THE CONCEPT OF PENSION Presented by:- Barrigntonhowe ltd Barringtonhowe.Com

  2. What is Pension ? Pension is a defined benefit plan that provide monthly income in retirement. Pension is a tax free saving pot where you, your employee or government pay into.

  3. Importance Of Pension • It change the social structure i.e. give you a independent life after retired. • It helps in increasing life expectancy. • Regular income that coming from retirement helps to improve the social security. • Pension make future tension free and comfortable.

  4. TYPES OF PENSION • State Pension:- State pension is a contribution based benefit. i.e. you require to pay throughout your working life. When you are in retirement period then you receive it as a regular income. • Work Place Pension:- in this pension you, your employee and the government contribute. It is taken as a percentage from your salary each month. You will offered two…. • Defined benefit scheme. • Contribution defined scheme • Personal Pension:- this type of pension is fully arranged by yourself, you just require to pay regularly. You have control over the money and you decide where you want to invest it. SIPP or Stakeholder pension is comes under personal pension.

  5. ADVANTAGES OF PENSION PLAN • Pension is funded by the employee i.e. employee contribution. • Pension protected us from investment risk. • Pension is a tax free contribution. • Earlier pension investment give great benefit. • Get regular income at the retirement period.

  6. DISADVANTAGE OF PENSION • It is complicated. • With definite plan scheme you have no control over the saving. • Risk of poor return if we invest into stokes and shares.

  7. Want a Pension advice and pension review to make your retirement plan successful? Contact us Address: Suite 163, 2 Lansdowne Row, Berkeley Square, Mayfair, London, W1J6HL United Kingdom State / region - whales Phone no:+44 0203 0268820 Email Id: Barringtonhowe.Com

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