- Self Directed Personal Pensions are alternatives to Assurance type products used for the provision of pension funding.
- They allow the professional total control in the management of their pensions assets and allow investment in assets of their choice, alongside or totally replacing assets previously managed by Assurers.
- You may transfer all your existing plans into one Self Directed arrangement.
- At any age from 60 to 70 you may take 25% of your accumulated funds as Tax Free Cash.
- Remaining funds can be transferred to an Approved Retirement Fund; you can totally encash your fund and pay a once-off tax amount; or purchase an annuity.
- Contribution levels:
Under 30: 15%
30-39: 20%
40-49: 25%
50-54: 30%
55-59: 35%
60+ : 40%
|
