Stakeholder pensions and retirement
Due to pension freedoms introduced in 2015, you can now access your pension at aged 55 and withdraw 25% as a tax-free lump-sum, should you wish. The value of your stakeholder pension is linked to the following:
- the amount of money you’ve invested
- when you made the investments
- the investment growth of your pension
- the level of charges made by the pension provider
The amount of income you may receive through a stakeholder pension can vary depending on the policy options selected. Factors including income paid in the event of your death, income increases due to inflation and even the frequency at which you wish to be paid can all affect the value of the funds you receive.
What’s best for you
and your pension?
It is always advisable to get professional financial help when investing in your future and understanding what the best option for you is when you retire.
At Pension Works, we offer a full, independent retirement planning service, to help you get the most from your pension savings. We will assess your current stakeholder pensions or any other private pensions you may have for free and advise on how best to invest your savings to reach your retirement goals.