Are all of your pension arrangements working as hard as you are?

Please take the time to read this important pension information. A few minutes of your time now could make all the difference when you reach retirement.

According to statistics, part of your total income in retirement may be funded by the investment of part of your National Insurance Contributions into a Personal Pension Plan. This is known as ‘Contracting-Out’. Whether or not you continue to be Contracted-Out, your accumulated funds could be working harder to potentially generate a higher income in retirement for you.

Since the Government introduced Stakeholder Pensions, newer products have tended to offer lower charges to the point that the industry regulator, the Financial Services Authority, published research in a paper entitled ‘To switch or not to switch, that’s the question. An analysis of the potential gains from switching pension provider’ ’*. This paper stated in its conclusions that many policyholders could benefit from transferring their accumulated funds (and future contributions) into a new style, lower charged contract.

In addition to lower charges, new style plans also offer the advantages of:

Broader choice of investment links which enable us to choose the right range of funds to match your current preference, be that maximising your future returns or consolidating the results achieved to date.

Online access to information. Most modern providers now provide online access for you to gather information and guidance about your pension from the convenience of your own PC. In addition, Millfield Osceola will be on hand to provide you with a level of personal service and will charge no fee for this service.

In order to determine whether switching your accumulated funds would be of benefit to you, please call us on 01189 320600 or email enquiries@osceola.co.uk with your contact details and we will give you a call. Most importantly, Millfield Osceola will oversee all of the arrangements necessary to enable you to benefit from a lower ongoing charge and give you the peace of mind that your money is working as hard as you are.

If you have any questions or queries in relation to this letter or any other area of financial planning, please do not hesitate to contact us.

Take a look at the full report by clicking on the direct link below:-

www.fsa.gov.uk/pubs/occpapers/OP18.pdf

*To switch or not to switch, that’s the question. FSA Occasional Paper 18. Published September 2002