Selecting a Pension Scheme

There are many different pension schemes available, all of which have various advantages (or disadvantages), depending on your circumstances. When you choose a pension scheme, you have to consider several factors such as:

  • The level of funding you as an employer are prepared to give.
  • The reputation of the pension provider;
  • The amount you are prepared to put into a pension;
  • What income you want your pension to deliver when you retire;
  • The charges, costs and penalties of the plan;
  • Whether there are areas in which you would like/not like your pension scheme to invest;
  • What happens to your pension benefits in the event of death.