Sipps Pension Uk
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UK Pension Provision - UK Pension Provision falls into three major divisions:
Pension simplification (UK) - In 2004 the Labour Party government announced plans to rationalise the British tax system as applied to pension schemes; these changes are referred to as pension simplification. The aim is to reduce the complicated patchwork of legislation built-up by successive administrations which act as a barrier to the public when considering retirement planning.
Stakeholder pension scheme - Stakeholder pension schemes were introduced in the UK by the Labour Party government in 2001 to encourage long term savings in relation to retirement. Stakeholder pension schemes are personal pension schemes which meet CAT standards (Cost Access and Terms) imposed to reduce costs traditionally associated with saving for retirement.
State Second Pension - On 6 April 2002, the Labour Government introduced the State Second Pension to provide a more generous additional state pension for UK workers. The main aim was to enhance retirement benefits for low and moderate earners, and to extend access to include certain carers and people with long-term illness or disability.
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