Pension or ISA?

Pensions are a very attractive savings option these days. As there is immediate unlimited access to pension funds from age 55, many people may now be thinking about choosing their pension over more traditional saving options such as ISAs. It could even be the trigger to consider transferring your existing ISA savings into a pension plan.

ISA's are still a valuable saving option for many, especially those that may need access before age 55. But with pensions benefiting from tax relief on member contributions and the ability to take 25% of the fund tax free they will likely outperform ISA's in most like for like situations. Of course investments can go up or down and may be worth less than was paid in.

For independent financial advice on pensions and ISA's contact Phil Anderson Financial Services at one of our local offices -

ABERDEEN - Tel: 01224 900879

ELLON - Tel: 01358 268166

ABOYNE - Tel: 013398 85685