Company pensions
EML Financial Services Limited is owned by four of the partners in Emsleys Solicitors. EML Financial Services is regulated by the Financial Services Authority.
There are many kinds of company pensions available, and you’ll find what is on offer will differ greatly from business to business. However, all of these schemes tend to fall into one of two categories; salary-related schemes and money purchase schemes.
Salary-related scheme
With these schemes the amount you receive is based on your salary and the number of years you make contributions for. This means that the longer you've been in a job and the higher your salary, the bigger your pension will be.
Part of the pension can also be taken as a commencement lump sum, but doing this will decrease the amount of pension you receive.
Money purchase scheme
In the case of money purchase schemes its common for both the employer and employee to make regular contributions, the amount of which is based on the employee’s salary. The amount that this type of scheme pays out is dependent on how much you have paid in and how well that money has been invested. This scheme also allows you to draw a commencement lump sum should you want to.
How we can help
The decision that many people are faced with is whether to sign up to their company pension or to set up a personal pension. If you need advice on this issue, or any other matter relating to company pensions, the expert team at E.m.l. are more than happy to help. We can talk you through the pros and cons of every pension option available to ensure that you are investing your money in the best way for you.
