MS Wealth Management Limited Registered in England and Wales: 04698059

MS Wealth Management Ltd. is authorised and regulated by the Financial Services Authority. FSA no. 454962

• Tel: 01204 366300
• Fax: 01204 366344

There are a number of ways you can save for retirement, ranging from simple stakeholder plans, personal pension plans to the more elaborate Self Invested Pension Plans. If you are lucky enough that your employer has a scheme and they are willing to contribute on your behalf this is a must for most people.

Usually the best types of saving schemes are the one’s that restrict how much you can pay in. Although since April 2006 new rules have meant that you now have much wider scope to contribute larger amounts. Generally you can contribute 100% of your earnings, if you can afford it, investing within your means is always a good idea.

Remember also, that tax relief is given to yourself at the rate you pay, therefore the more you pay in tax the more you receive in tax relief.

It is important to understand that, the earlier you start saving then the greater your retirement fund will be.

Pension funds suffer very little tax liability within the fund which makes them very tax efficient. You can also take a tax free sum of 25% from your retirement fund, when its time to take the benefits. The remaining fund you can take income each year between certain levels set by the government.

If you decide that you don’t want to risk leaving your money in the fund, then it may suit you to take an annuity which is a guaranteed income for life.

It's important that you get advice as soon as possible and to start to plan with MS Wealth Management.

How you take your benefits will depend on your overall circumstances.

So speak to us at MS Wealth Management today and receive a free no obligation consultation and appraisal of your current situation

click here to download A Clear guide to your retirement options