Personal Financial Services
These contracts provide a greater fund selection (typically 100 to 200 funds) than available under a Stakeholder contract.
Many of these plans also offer large fund discounts which can make them more cost effective than a Stakeholder plan - depending on the actual funds used.
The minimum contribution levels are however generally higher with providers requiring minimum regular contributions of anywhere between £50 and £200 gross per month.
Some (but not all) of these contracts can also provide the option to take your retirement benefits by way of drawdown as well as annuity purchase. However most would still require you to transfer to another arrangement to facilitate this.
These types of contracts are therefore appropriate for someone with higher contribution levels/transfer values who could potentially benefit from the large fund discounts available, and who require a greater fund selection than available under a Stakeholder plan but not the full range of self investment options that would be accessible under a SIPP.
For more information or advice on Personal Pensions, please contact us or request a call back.
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