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Pensions Explained
A pension is a way of saving money for retirement. There are different types of pension, but often they will offer tax incentives to encourage people to save.
Contributions are typically paid into a pension by an individual, and in some cases by their employer too. The amount contributed into a pension will impact the overall value that someone has in their...
There is no real standard contribution level, however it is widely accepted that in order to save a meaningful amount contributions of 10% of an individual’s salary would be needed. Under the...
The amount of pension you will receive depends on the type(s) of pension you have. If for example you have made full contributions via social security during your working life, you should be eligible...
Planning for retirement is important and you should give yourself plenty of time to plan for your retirement and try not to leave it to the last minute to start thinking about this.
This depends on the type of pension. The States Pension is available when you reach the relevant State pension age, and this can vary depending on when you were born. For other types of pension i...
This may differ between different types of pension. Your Island Pension allows for the value of your pension pot to be paid as a lump sum to someone you nominate during your lifetime, in the event you di...
The States of Guernsey are introducing a mandatory employer-sponsored pension regime - equivalent to UK auto-enrolment. It is called Secondary Pensions.
With people living longer and with high numbers of people not currently saving for their retirement, the Secondary Pensions regulation has been introduced to help reduce pensioner poverty. Find out more in this helpful guide.