• Personal pensions, also known as private pensions, are the traditional way for individuals to save for retirement, by way of their own contributions. If you're not sure how much you are going to have available to live on when you retire, we can carry out a pension review for you. And if you don't have a pension yet, we'll explain how easy it can be to set one up. 

Personal Pension Plans (PPPs)

Many people talk about private pensions, but what they are referring to is merely personal pensions, after all there is nothing in the legislation that talks about private pensions. Personal pensions give you greater choice of provider, and a bigger selection of funds to invest in.

First of all, let's clear up some of the confusion around the words personal pension and private pension.

In our experience, people normally refer to pensions as private because they are owned by them individually and are not part of a company scheme, in other words, the pension is private to them.

Private pensions are therefore non-occupational pensions, private to the individual. In terms of the legislation they are simply known as a personal pension. Personal pensions – also known as PP’s can also include SIPP’s – Self-Invested Personal Pensions, and Stakeholder Pensions too. If you are looking for someone to guide you through this maze of words – then MAP is the adviser for you!

A Long Term Investment With Tax Benefits

Personal pensions are one step up from a basic stakeholder pension. Like most pensions, they're a long-term investment that you build up to use for your retirement. It's possible to put 100% of earnings into a personal pension, up to £50,000 per annum. What's more, HM Revenue and Customs offers various rates of tax relief which can add extra money to your pension fund depending on whether you're a basic rate tax payer or pay tax at a higher rate.

Everyone is limited in some way as to how much can be put into a pension each year. So it follows that you should always look to maximise returns.

Invest Well For a Happy Retirement

The main thing with a pension is to invest as best you can to maximise it. The more you have in your pot through return on investment, the better your retirement will be. At MAP, we always attempt to maximise our clients’ final pot of money through products which provide performance, flexibility and transparency. Too often, people invest in ‘Managed Fund A’ of ‘Whatever Insurance Co’, walk away and forget about it until close to retirement, then expect it to have grown into just the amount they had hoped for.  At MAP, we take care of your money as if it's our own.

The MAP bespoke investment strategy is our way of helping you find the pension and level of investment most suited to your retirement needs (one of the most important of these is your Attitude To Risk . When you're looking for personal pension advice, you need an adviser who'll review existing personal pensions and recommend changes as and where necessary. Or, if you're looking to get started with a pension, we can help you set up your new personal pension. Whatever your situation, we monitor our clients' pensions regularly to make sure they're performing in a way that meets their needs. 

Why Have a Financial Adviser?

You have two choices if you want a pension that performs well. Some people have the time and experience to take a strong interest in investing their money. On the other hand, many people choose to have a financial adviser help them along the way; a MAP financial adviser will help you with regular reviews and monitor the money you have invested in your pension; we call it having an active approach to looking after our clients' pensions. A good adviser will also be able to answer any questions you have - whatever they happen to be; we think that there's no such thing as a silly question when it comes to looking after your money.

Get a Pension Review or Ask About Starting a Pension

If you'd like to speak to an adviser who can give you some expert pension advice, simply fill in the form on this page to arrange an (absolutely) no-obligation chat about your pension, or you can call us on 0141 891 7850 or 0345 241 1808.