Get to know each other before getting hitched

Article Abstract:

Those who need to select a personal pension should try to find a contract with conditions that suit their likely career pattern and earnings. The contract must be sufficiently flexible to allow contributions to be varied or suspended without penalty. It is also important to understand the system of commission-related charges, including fixed charges for administering the policy and annual charges for running the pension fund. It may be possible to minimize costs by choosing a plan paying commission on a level rather than a front-loaded basis.

United Kingdom, Financial management, Purchasing, Pensions

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To opt in or out - that is the question

Article Abstract:

It can be very hard to decide whether to belong to the UK government's state earnings-related pension scheme (Serps) or to contract out and subscribe to a private pension scheme. Experts advise that it is not always wise to contract out. Whether it is best to do so or not will depend on a complex calculation relating to the individual's age and the scale of the rebate on National Insurance contributions paid into a personal pension scheme. Another key issue is whether Serps will survive.

Personal Financial Mgmt, Management, Personal finance

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