Starting to save early into a pension

This is an example case study for illustrative purposes only.

Dave is 30 and wants to save regularly into a pension and wants to weigh up the potential benefits of saving early rather than later.

Important information

Forecasts are not a reliable indicator of future performance . Figures are based on assumptions relating to growth, product charges and tax (see below).  Actual returns  may be higher or lower, and the value of investments can go down as well as up. Investors may not receive back the full amount originally invested.

Figures assume regular contributions to the Scottish Widows Stakeholder Pension (specifically the “Balanced Growth Portfolio”).  The assumed annual growth rate  to age 60 is 5.1% and assumed annual fund charge is  1%; actual growth  rates and charges may be  higher or lower. Annual charges may impact the value of the pension by reducing growth. Projections use tax rates and  allowances based on the 2015/16 tax year but these may be subject to change in the future. Tax treatment depends on individual circumstances.

Projections do not take account of the effect of inflation. Over time, inflation reduces the real value of your pension.

Accurate as at April 2015.

CASE STUDIES

Investment into an ISA or Pension
Chris is a higher rate tax payer in his mid forties and he wants to make a tax efficient investment of £15,000 to use later in life.

Pension for children and
grandchildren

Dave and Ann are a married couple in their late sixties. They would like to save for their grandchild’s future using disposable income.

For access to advice from a Private Banking and Advice Manager, you’ll need at least £250,000 in savings, investments and/or personal pensions and/or a sole annual income of at least £250,000.
Find out more about Eligibility and fees.

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