Personal Pensions

Planning ahead for your retirement is one of the most important financial decisions you will ever make. That’s why it’s so important to get it right and ensure that your retirement years are as secure and enjoyable as possible.


At Southeast Financial Services we will help you make the right decisions for your retirement. We will review all your options and help you choose a Personal Pension plan that exactly meets your needs.. 


What is a Personal Pension?

A Personal Pension is essentially a long-term savings plan which is managed on your behalf by a life assurance company. The contributions you make to your plan are invested with the aim of building up an income for your retirement. You can set up a Personal Pension plan if you are self-employed or if you are not entitled to join a company pension scheme. 


How does a Personal Pension work?

You choose a pension provider and an investment fund that fits your financial needs and ambition.

You make regular, usually monthly, contributions to your Pension Plan over a long-term period, typically 20-35 years.

Your money is invested in assets such as equities, bonds, property, alternative assets and cash.

Upon retirement you can take up to 25% of your fund as a tax-free lump sum, and use the balance to provide a regular income during your retirement.


What advantages do Personal Pensions have?

You will enjoy generous tax reliefs on the contributions you make to your Pension Plan, typically at the highest rate of income tax you pay.

Any growth in the value of your pension fund is tax-free.

You can take up to 25% of your fund as a tax-free lump sum when you retire.

You will enjoy all the peace of mind that comes with knowing that your financial needs in retirement are taken care of.

Warning: The value of your investment may go down as well as up.

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