A personal pension is a flexible way to save for your retirement. When you’re used to a certain standard of living, the state pension alone may not be enough. That’s why it pays to start a pension as soon as you can. You can claim tax relief and if you pay basic rate tax, we’ll do all the paperwork for you. The Personal Pension Plan offers government tax relief, stock market investing and the option to take tax-free cash when you retire.
You can get access to your money from age 55, when you can use it to provide an income for yourself and your partner, or take lump sums to help children or grandchildren. And with the new pension changes, it’s even easier to use your pension savings exactly the way you want to.
Personal Pension Plan
The Personal Pension Plan may be right for you if you:
Stuart is in his mid thirties and has just become self-employed. He had a company pension with his previous employer and wants to use the LFS Personal Pension Plan to continue saving for his retirement. He chooses this plan as it gives him the flexibility to vary his regular payments. This is useful in the early days of his business when he no longer receives a monthly wage. He also knows that if he dies before he reaches 75, his savings will be passed on to his family tax-free.
This example is for illustration only. It should not be taken as advice. None of the case studies on this site are endorsed by the Independent Governance Committee.
Plan literature
To find out more about the Personal Pension Plan please read the plan information shown here. It gives you all the detail you need to understand how the plan works and which funds you can invest in.
Key Features
Guide to Investment Funds
Guide to Investment Risk
Prospectus
Annual Long Form Report and Accounts
Interim Long Form Report and Accounts
Stuart is in his mid thirties and has just become self-employed. He had a company pension with his previous employer and wants to use the LFS Personal Pension Plan to continue saving for his retirement. He chooses this plan as it gives him the flexibility to vary his regular payments. This is useful in the early days of his business when he no longer receives a monthly wage. He also knows that if he dies before he reaches 75, his savings will be passed on to his family tax-free.
This example is for illustration only. It should not be taken as advice. None of the case studies on this site are endorsed by the Independent Governance Committee.
Looking after your interests
In addition to managing your pension in line with the scheme rules and regulations laid down by the government, we have also appointed an independent governance committee whose task it is to act in the interest of all scheme members.
These people act like trustees to ensure that you receive value for money from the scheme. So they look at things like charges, administration, communication and the funds we manage. They can challenge how we run our pension schemes and if any scheme is not providing value for money, they can recommend remedial action.
The independent committee meets at least four times a year and is made up of the following members:
Christopher Murray (Chair) - Director, Smith & Williamson Financial Services Limited
Professional qualifications:
Fellow of the Pensions Management Institute
Diploma of the Personal Finance Society
Mr Murray has extensive experience of advising companies on pension schemes and working with trustees, as well as acting in a trustee capacity on behalf of Smith & Williamson Trust Corporation Limited. He is also a partner of Smith & Williamson LLP.
Naomi L’Estrange - Director, 20-20 Trustee Services Limited
Professional qualifications:
Solicitor (current practising certificate)
Qualified Executive Coach
Certificate in Advanced Business Management from Ashridge
Ms L'Estrange has 20 years' experience as a pension lawyer and a director of the Pension Protection Fund. She advised the Institute of Actuaries and many individual pension schemes and was seconded to Government to advise on Pensions Act 2004. As the PPF's Director of Strategy and Policy, Ms L'Estrange has worked with various Government departments and the EU on matters of pension policy. She is a professional trustee to a number of pension schemes of all types.
Sarah Farrant - Director, Sarah Farrant Consulting
Professional qualifications:
Fellow of the Institute of Actuaries
Ms Farrant has been a qualified actuary for over 25 years. She has been Scheme Actuary to many schemes, including a number of FTSE 100 and FTSE 250 companies and has enjoyed senior roles with national employee benefit consultancies and a ‘Big Four’ firm of Chartered Accountants.
Mark Garnett - Director, Advisory Investment Services Limited
Professional qualifications:
Associate of the Chartered Institute for Securities and Investment
Associate of the Chartered Insurance Institute
Mr Garnett provides investment management and advice for pension schemes and is former Partner of Smith & Williamson Investment Management LLP. He advises employers and boards of trustees, and regularly presents on the economy and investment markets.
Adam Tookey - Head of Product Management, Link Fund Solutions
Mr Tookey is responsible for the development and on-going product management of all funds operated by Link Fund Solutions Limited, including those offered through the pension plan. He has more than 20 years asset management experience, working for a number of global firms.
The Independent Governance Committee welcomes views from members so for more information or to get in contact with the committee chairman, email christopher.murray@smithandwilliamson.com. Additionally, available for view are the committee's Terms of Reference, Conflicts of Interest Policy and Annual Report.
Stuart is in his mid thirties and has just become self-employed. He had a company pension with his previous employer and wants to use the LFS Personal Pension Plan to continue saving for his retirement. He chooses this plan as it gives him the flexibility to vary his regular payments. This is useful in the early days of his business when he no longer receives a monthly wage. He also knows that if he dies before he reaches 75, his savings will be passed on to his family tax-free.
This example is for illustration only. It should not be taken as advice. None of the case studies on this site are endorsed by the Independent Governance Committee.
How we manage the Funds
We select and review this range of funds in conjunction with our investment advisers. All the funds we invest in are subject to extensive due diligence assessments both before and after investment. Our Investment Oversight Committee regularly monitors and reviews the performance of our full fund range, to ensure each fund is meeting its investment objective.
Who are the underlying fund managers
We invest in funds run by UK fund managers including Aberdeen Asset Management and Legal & General Investment Management
