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Stakeholder Pension Example |
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This is an example of what you of what you might get from a plan at your requested retirement age.
The amounts shown are not guaranteed.
Example Plan is Shown Below
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1 | Who does the plan cover ? | | You | M Burns, male, employed, non-smoker | Your age | 35 | Chosen retirement age | 60 | Current annual earning | £15 |
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2 | What will the payments be ? | | Assured start term | 5 November | | Payment term | 20 Years 7 | | | Monthly | Transfer | | payment | payment |
| | | Basic rate tax relief | £14.29 | |
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| | Total amount invested | £64.94 | £2,472.48 |
| | 3 | What might I get when I'm 60 | | These figures illustrate what you might get if you start taking your pension when you're 60 | | The table assumes that you keep paying into the plan until your payments end. | | We've assumed that your pension will | | | if our investments grow at | 5% | 7% | 9% | | and our interest rates when you retire are | 4% | 6% | 8% |
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| | Your final fund could be | £31,300 | £40,800 | £53,700 |
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| | Which could give you either a taxable yearly pension of | £1,200 | £2,000 | £3,260 | | or a tax-free sum of | £7,820 | £10,200 | £13,400 | | plus a smaller taxable yearly pension of | £903 | £1,500 | £2,440 |
| | 4 | What are the charges | | The charges cover the cost of commission, expenses, profit, any charges if you transfer and other adjustments. We take all charges out of the plan in every year of the plan. | | The charges are as follows: 1% yearly charge from monthly contributions 1% yearly charge from transfer payments These annual payments will reduce by 0.05% and 0.35% once fund values exceed £10,000
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