Personal pensions are a tax efficient plan designed to help you save for retirement. You can save regularly, make single contributions, accept and transfer from anther pension scheme or a combination of these.

The current rules are as follows:
Retirement age:	50 -75 (earlier if through ill health)
Fund:	Tax exempt
Qualifying premiums:	Persons up to age 40	15% of net relevant earnings
	Contribution limit per annum	£13,600
	Persons over 40	25% of net relevant earnings
	Contribution limit per annum	£20,000
Unused allowance:	Up to six years carried forward
On Retirement:	up to 25% tax-free lump sum, balance to be applied to income potentially taxable at 20%. (Maximum £124,000 (2003 limit))
Option:	To effect Retirement Annuity Trust, which can provide valuable benefits in terms of the fund investment, and investment choice rather than receiving an annuity.
Transfers:	From frozen pension schemes can be accepted.

Full details of the above, including independent advice on transfers, retirement options, and Retirement Annuity Trusts are all available without obligation, by our team of qualified advisors. For further details call 722222 or email us.