Being self-employed means that you cannot join occupational pension schemes, although you will receive the basic state pension and the Flat Rate State Pension, which came into effect on 6 April 2016 subject to a sufficient National Insurance record.
This means it is essential to make plans for contributing to an individual arrangement in order to receive an income that gives you security in your retirement, but how much do you need?
My retirement planning calculator is designed to provide an indication of the monthly savings needed to fund the gap in your required income at retirement, and your expected income from existing funds.
Expert and professional advice, which focuses on your requirements, is of paramount importance and will be the cornerstone of your pension planning arrangements. Recognising this, the St. James's Place Approach to Retirement Planning is founded on four key principles:
If you would like to know more about the St. James's Place range of pensions, or specialist advice on your retirement planning requirements, please get in touch.
The value of an investment with St. James's Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up. You may get back less than you invested.