Individual Pension Plans

You can help make sure you enjoy the retirement you deserve by investing in an individual pension plan. There are various different plans available all offering the same tax efficient way of saving for retirement and a range of fund options to match the level of risk you are prepared to take.

Stakeholder plans are the simplest plan type. They offer very low minimum contribution levels-as low as £20 per month. Contributions can be stopped and restarted with no penalty and plan fees are capped. Whilst they offer a range of fund options these can be limited. Personal Pension Plans (PPP) offer a wider range of fund options both from the PPP provider itself but also from other external fund houses and a corresponding range of plan charges. If you prefer even more investment choice and are prepared to pay higher charges, a Self Invested Personal Pension (SIPP) may be for you. SIPPs, like stakeholder and PPPs, provide a tax efficient way of saving. Where they are different is that they offer plan holders greater freedom to make investment decisions, or to appoint an investment manager to do so for them. That opens up a range of options among external investments, such as commercial property, as well as the more traditional insured or collective funds. It is important to note that the charges levied for the administration of a SIPP are usually higher than for other individual pension plans.

• Important Information

  What you get back at retirement from a personal pension will depend on the investment performance of the underlying assets, and the annuity rates applicable at the time that you take your pension benefits. The value of investments can fall as well as rise. Returns are not guaranteed and you may not get back what you originally invested. The favourable tax treatment of pensions may change at any time in the future. The value of tax relief will depend upon your personal financial circumstances. Annuity rates may fall or rise. If they fall, the pension you buy at later date may be smaller. You must take a tax-free lump sum before your 75th birthday or will lose this option. Any income you withdraw will be taxed as earned income. You can't access your money in your pension until reach the age of 50 going up to 55 in 2010. Your Financial planning Manager will inform you about the product's aims, its objectives and the risks involved. The Key Features document will also detail this information for your reference.

With Barclays Financial planning you get:

• Access to pension providers that have met our rigorous selection criteria.
• A choice of Personal Pension Plans with a range of their own and external fund options.
• A SIPP exclusively tailored for Barclays customers.

For more information call 0800 587 2024 to book an appointment or request a call back.