Frequently Asked Questions
Why should I take responsibility for my retirement planning?
It’s important that you take control of the amount of money you will have once you retire. The Government pension income that may be available to you at retirement is likely to be minimal, and hardly enough for a comfortable retirement. Employer “final salary” pensions that previous generations may have enjoyed are very rare these days. The cost of living is likely to carry on increasing.
Life expectancy is also on the rise, and for many of us who may live into our nineties, retirement could well extend over a 30 year period. For all these reasons, it is important to be financially well prepared. And the only way of being sure of this, is to take control and start saving for retirement.
Can I transfer a UK registered pension into the Prosperity Personal Pension Plan?
No, a UK registered pension can only be transferred into a QROPS. You may be eligible to transfer a UK pension into our Prosperity QROPS instead.
Can I access my pension benefits before age 55?
No, not in normal circumstances. However, pension benefits may be accessible before the age of 55 in the event of severe ill health. Medical evidence from a registered general practitioner will be required.
Can I take out a workplace pension for my employees?
Yes, occupational pension schemes are offered by Abacus and can be arranged.