Significant Investors include: George Soros and
Jim Rogers.
Company Pension
Considerations:
1. Seeking Tax relief / efficient benefits is
paramount.
2. Employer schemes with Employer contributions -
in particular Final Salary Schemes are worth serious thought.
3. Watch out for and check out the competition on
effective fund management, fees, charges, commission, penalties and
performance. Ask what options are available concerning Schemes
mix'n'match of fees and commissions for example Employer v Employee
charges.
4. Do-It-Yourself or Self-Invested Personal
Pensions (SIPPs) as a Share-Save Scheme - note be wary of the
proverbial "all eggs in one basket" approach. Also consider
Individual Savings Accounts (ISAs), Share Incentive Plans,
Additional Voluntary Contributions (AVCs) and taking a smaller
salary to increase pension contributions.
5. The saying "start them young" is very
important in pension provision. Interest / Dividends / Bonuses and
Tax implications should only provide enhancement for the long term
player.
6.Understand and get involved in where pension
money is invested. How a fund is managed, performance and whether
it is right for you - the individual's personal circumstances
should be key factors in the decision making. Know your rights to
information, updates, options and changes to your pension
investment.
7. Financial advice should be sought from various
sources and not just one. Independent Financial Advisors,
Employers, Media (newspapers, magazines, periodicals, TV, Radio and
the Internet) for example.
8. The risk v return debate should be a
continuous consideration. The attitude towards risk and mix or
products like equities, bonds and cash should be a continuous
consultation exercise thus the individual may change depending on
aversion to risk their pension mix.
9. Turning pension savings into an income has a
very popular vehicle in the 'Annuity' - however delve deeper and
make a decision based on all available options. Like the weekly
grocery shop - check out the competition and alternatives. Ask
about a 'tax fee cash allowance', the 'income draw- down /
unsecured pension' and impact on beneficiaries in the event of your
death.
Credit Card Considerations:
1. Consumers Credit Act Section 75 (liability and
rights).
2. Refund Rights (standards and delivery).
3. Check for any differences (debit card v credit
card ; terms and conditions).
