Personal Pension Plans
Personal Pension Plans (PPPs) were originally designed for the millions of employed & self-employed individuals who did not have access to a company pension scheme.
Introduced in July 1988, they were part of a government push to extend pension choice & encourage those people not in company schemes to build up a retirement fund; one that could cater for their retirement needs more realistically than the state. Many financial institutions offer PPPs, though most are run by the large insurance companies and banks.
We can research the whole market on your behalf to find a suitable pension plan. These plans can be set up for non-working spouses and even children and grandchildren where up to £3600 can be invested annually.
Other types of Personal Pensions include Stakeholder and Self-Invested Pension Plans (SIPPs). SIPPs allow you to choose your own investments, with certain restrictions, rather than only having the options offered by a pension company.
A Personal Pension Plan is really just a long term savings plan that is designed to produce a fund at retirement. At retirement provision can be made to protect your pension from the eroding effects of inflation, protect your income in the event of your death and make provision for your spouse or dependants.
