Benefits of a pension
Why save with a pension?
A company pension offers you a tax efficient
way to save for your retirement. You make payments while you are working,
then when you retire the money that has built up is used to provide you with an income,
or a tax-free lump sum and a smaller income, for the rest of your life.
Will the Basic State Pension provide enough? You decide:
£90.70 a week for a single person
£145.05 a week for a pensioner couple
For the tax year 2008/2009
With a company pension, your money goes even further. Every payment you make
is entitled to tax relief. Tax relief may alter and its value depends on your
financial circumstances. The following pages will explain the benefits in more
detail.
Tax and legislation are likely to change in the future. The information given here is based on Standard Life's current understanding of law and HM Revenue & Customs practice.
