SJP All about UK Pensions
Your pension, your future
Imagining a long, comfortable retirement and planning for it becomes a top priority as we get older.
We’re now likely to live much longer than previous generations, which means we’ll be spending even more time retired than before. You want to be sure that you have enough money to live the lifestyle you’ve worked for, for as long as you want, without compromising your dreams.
Starting to save into a pension earlier rather than later puts you ahead of the game. There are many ways to save into a pension and access the funds when you need to. We’ll help you to get started and create your own personal pension plan to suit your lifestyle.
It’s ok to start small if you need to. The longer you’re investing, the more your pension pot will grow. Getting started is the main thing.
Understanding pensions and how they work is key to your peace of mind. You can look forward to later life with confidence.
The value of an investment with St. James's Place will be directly linked to the performance of the funds you select, and the value can therefore go down as well as up. You may get back less than you invested.
How do pensions work?
A pension is long-term saving plan that you build up across your working life in order to create enough income for later life.
They are designed to provide you with money in later life, most often when you are reducing or stopping work. Therefore, you typically can’t access your pension until at least age 55 (rising to 57 in 2028), or sometimes later depending on what pension scheme you have.
Pensions are one of the most tax efficient ways to save for retirement, as you are able to receive tax relief on your contributions. This means the government will add money every time you contribute.
To help you understand the basics of pensions, take a tour through our journey to find out more.
The value of an investment with St. James's Place will be directly linked to the performance of the funds selected and may fall as well as rise. You may get back less than the amount invested.
The levels and bases of taxation and reliefs from taxation can change at any time Tax relief is dependent on individual circumstances.
Understanding the basics
At a different stage of your retirement journey?
The value of an investment with St. James's Place will be directly linked to the performance of the funds selected and may fall as well as rise. You may get back less than the amount invested.
The levels and bases of taxation and reliefs from taxation can change at any time. The value of any tax relief depends on individual circumstances. You are advised to seek independent tax advice from suitably qualified professionals before making any decision as to the tax implications of any investment.