UK PERSONAL PENSION

An individual pension scheme where your contributions grow through investment return. The resulting pot of money can then be used to buy pension benefits at any time between ages 50 and 75. Under current rules, up to 25% of the fund can be taken as tax free cash.

A particular type of personal pension can be taken out for the purposes of "opting out" of the additional, "top-up" State pension (called SERPs up to April 2002; now the "Second State Pension" or S2P).

This type of personal pension works on the same basis except that benefits cannot be taken prior to age 60 and there is no entitlement to tax free cash.

For a more detailed guide CLICK HERE for further information

We have access to hundreds of personal pension plan products

Great British Finance Limited are authorised and regulated by the Financial Services Authority (FSA). The FSA does not regulate some forms of Mortgage, Inheritance Tax Planning, Credit Cards, Personal Loans, Deposit Accounts & Insurance. If you are submitting an online request, we would advise to read our KeyFacts statement, links are at the top and bottom of this page.