What’s happening with your pensions?
Having a career break doesn’t have to mean a pensions brake.
Whatever your employment status pre-kids, there is a chance that if you are looking after children your role will change. You may give up work to stay at home, you may reduce your hours or change jobs altogether.
Whilst the focus may be on your children, don’t forget to consider the impact children can have on your pension.
State Pension
There are a number of areas to consider starting with your state pension. If you reduce your hours or stop work this will impact your state pension entitlement. Currently only 30% of women receive a full state pension. You can, however, contribute to ensure your state pension is not affected.
Previous Pensions
You may have left a pension behind at an old employer that may need reviewing to see whether it is better left there or transferred. We can help with this, so feel free to contact us for an explanation of what we can do.
Continuing Contributions
Under recent changes to pensions rules you are now allowed to contribute to a stakeholder or personal pension even if you are not working. You can contribute up to £240 per month and the government will add an additional £60 per month.
If you need assistance in this area, please contact us to establish how we can help.
Contact Us
Telephone: 0800 043 5440
Email: info@parentguidetomoney.co.uk
