PENSIONS

financial planning horizons

Pensions
Pensions in Context
	Evaluating Pension Requirements
	Dependent Factors
	State Pensions
		The Basic Pension
		State Earnings Related Pension Scheme
		State Second Pension (S2P)
	State Pension Credit
Pension Products
	Providers
	Background Legislation
		Social Security Act 1973
		Finance Act 1973
		Social Security Pensions Act 1975
		Finance Act 1981
		Health and Social Security Act 1984
		Social Security Act 1985
		Social Security Act 1986
		Finance (No 2) Act 1987
		Income and Corporation Taxes Act 1988 (ICTA 88)
		Social Security Act 1990
		Information for Members
		Pensions Act 1995
		Welfare Reform and Pensions Act 1999

Occupational Pensions
	Approval of Occupational Schemes
	Tax Concessions
	Setting Up The Occupational Scheme
	Approval Conditions and Maximum Benefits
	Eligibility
	Final Remuneration
	Costing and Investment Base of Occupational Schemes
		Contributions
		Underfunding
		Surpluses
	Contracting Out
	Executive Pension Plans (EPPs)
	Additional Voluntary Contributions (AVCs)
	Free Standing AVCs (FSAVCs)
	Small Self Administered Schemes (SSASs)
	Leaving Service
		Refund of Contributions
		Deferred Pension
		Transfer to a New Employer's Scheme
		Transfer to S.32 Buy Out Policy or to a Personal Pension Policy

Personal Pensions
	Introduction
	Retirement Annuities Pre-1988
	Eligibility for Personal Pensions
	Contribution Limits and Tax Relief
		Relevant Earnings
		Net Relevant Earnings
		The Earnings Cap
		Tax Reliefs and Other Tax Breaks
		Carry Forward Facility
		Carry Back Facility
		Excess Premiums
	Contracting Out
		Contracting Out Rebates
		Who Should Contract Out?
		Contracting Out Options
		Contracting In Again
	Transferability of Personal Pensions
	Benefit Options
		Pension Benefit at Retirement
		Cash Sum at Retirement
		Lump Sum Death Benefit
		Waiver of Premium Benefit
	Writing Benefits Under Trust
		The Use of a Flexible Trust
		Putting Existing Policies Into Trust
	Group Personal Pensions
	Self Invested Personal Pensions

Stakeholder Pensions
	Introduction
	Eligibility for Stakeholder Pensions
	Contribution Limits
	Charges
	Terms
	Contracting-Out of S2P
	Employer Obligations
	Concurrency
	Scheme Investments
		Individual Pension Accounts
	Interaction of Stakeholder with other Schemes

Use of Pension Products
	Use of Pension Products
Comparing Products and Providers
	Eligibility
	Minimum Contribution Levels
	Charging and Commission Structure
	Transfer Values
	Benefits Payable
	Tax Treatment
	Waiver of Contributions
	Comparing Options
	Comparing Providers
		Financial Strength
		Quality of Service
		Investment Choice and Performance

REMEMBER You should not use any information contained on this page as the basis of any action until you have discussed matters with your financial adviser.

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Pensions in Context

Pension Products

Occupational Pensions

Personal Pensions

Stakeholder Pensions

Use of Pension Products

Comparing Products and Providers