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PENSIONS
Theexpertstellmethere’snot
muchchoicewhendecidingwhat
typeofpensiontogofor.
Aretheyright?
by JEREMY LESLIE-SMITH
In
choice
Jersey
when
many
itcomes
people
to
thi
planni
nk we
ngef
have limited tosuitthosewhoinvestlargeramounts.
CERT PFS CERT C
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ir
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,
,
Oracle Financial Services (Jersey) Ltd
retirement. To a degr
fectivelyfor
respect
ee this is true, but only in I
ontheisl
of
and,
the
not
compani
thetypes
esthat
of
of
vehic
fer
les
pensio
available
nsher
.
e I
criter
n
n
co
Je
m
rs
ia,
e
ey
could
Dr
w
aw
e
d
a
allo
o
l
w
so now have a facility called
w
n
you
that,
at
su
retir
bject to qualifying
Over
thewholepensionfundanduse
e
the
menttounlock
and o
r
t
ecent
her p
years
ension
many
p
lifeassurancecompanies youwish.
moneyhow
their services
roviders have withdrawn
Islandsle
and products from the Channel A
pe
avingonlytwocompaniesofferingnew comple
s SIP
pensions
rsonal pensions. Many people still have youshoul
x
Ps
and
, SS
dspeak
nee
AS
d
a
to
to
nd
a
be
In
speciali
cover
come
st
ed
D
in
ra
much
wdow
deta
n ar
il,
e
outwhilst
with other companies that were taken advice.ForthisarticleIwill
adviserformore
island.
thosecompanieswerestillservicingthe thegenericideaofr
concentratemoreon
Retir
income
The key to ensuring a good retirement personaloroccupational
etirement
schemes.
planningandusing
does
ement
contributions
istoensur
andperformance
ethatyouregularly
.
reviewthe
Many
just
notnecessari
planning
ly
Althoug
their
two comp
h
anie
thechoic
s, Nor
e
wich
maynowbelimitedtojust work
futur
take
pen
e
s
.
a
io
This
dive
n a
may
rse
s we
include
approach
ll as a
pr
p
oper
when
ri
ty,savin
planning
gs,a
personal
meanhaving
pension
a
they are very strong
Union and Eagle Star, potentialinheritanceandthestatepensio
vate p
n.
ension,
really comes down to
market
funds
leaders. The choice
thanjustthecompany.
and charges rather Let’shavealookatsomeoftheseinmoredetail.
Whe
1.
thekey
n planning
issuesisto
for
make
retireme
sure
nt effectively, one of bought
Investing in Property: Many people have
funds that match your cir
thatyouinvestinto g
This is where Independent
cumst
Fin
ances and risk. Howe
rowt
ver
h
second
,
an
in
d i
homes
ncome
to
in
provide
their
both
retire
capit
men
al
t.
crucial, especially for those who
ancial Advice is yourmone
vestingsolelyinpropertycantie
close interest or understand
do not keep a dif
yupandgettingaccesstoitcanbe
areoftenavailable.
the vast funds that market
ficult particularly when the property
also
ispoor.Relyingonrentedincomecan
R
property
beapr
is
oblem
vacant.
especiallyintimeswhenthe
mean
etirem
havi
ent
ng
pl
a
an
perso
ning
nal
doe
pensi
s not
on.
necessarily just
aboutchoice,wedonotdiffertoo
When talking 2. Life
UK with respect to the t
muchfromthe these
Assurance
have pro
Savings
ven to
plans:
be a
Over
ver
theyears
planning vehicles available.
y
For
pes of retirement savingsvehiclefor
y popular
people personal
thefuture.Peoplehave
buildin
benefited
guplumpsumsfor
tax relief on the premi
byclaiming
employer, how
cu
pensi
ev
p
e
a
r
tio
ons
t
n
h
a
e
l
ar
p
e
m
e
o
n
the
the majority of
and/or an oc sion
most
from
suitable
your due
investor may opt to manage thei
re
r
sophisticated additional
tochange
benefit
over
wil
the
lpotentially
next
ums,
fe
however
wyears,
that is
disappea
asthis
r.
assetsandlookataSelfInvest
own pension
(SIPP) or small companie
edPersonalPension 3. Investing
consider a Small Se
s of up to 12 could mosttaxef
in
ficient
apens
way
ion.
of
Pen
saving
sion
for
sarestillthe
(SSAS). These allow
lf
yo
A
u
dm
to
in
i
i
n
s
v
te
e
red Scheme a
alter
contrib
s you can obtain tax relief on
the
all
fut
yo
ur
u
e
your
native
normal
ar
persona
eas othe
lpensi
r than
on,
those
however
on
st
of
in
they
fer
m
fr
a
tend
om
ny
JerseyIncome
utions up
Tax
to
Authori
certain
tie
limits
s.
set by the
r
20/20 sixteen
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