With a trust-based pension you decide how much and by what
means you want to contribute - either as a lump sum, transfer from
existing pension arrangements or on a monthly basis. The idea is to
build up a fund that will be used to generate an income to replace
your earnings when you retire.
Your contributions are fully tax-deductible (up to a specified
maximum) and if an employer pays in to your fund, their
contributions don't have an impact on your individual limit.
You have the option to withdraw from your fund once you reach the
age of 50 - by taking a partial lump sum and a regular income from
the placement of funds into income producing investments. You may
also defer the income requirement as your circumstances dictate.
It's a remarkably flexible and tailored solution that puts you in
control of your retirement planning.
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