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Contact Us

Arrow Financial Services
46 Watergate Street
Chester
CH1 2LA
Phone: 01244 322 330

Company Sponsored Schemes

Understanding Past & Present Schemes & Your Options

Many companies sponsor pension schemes for their own employees. While it’s generally a good thing for you to join these schemes, you will also need to be aware that the benefits that the various schemes provide can vary greatly. It is vitally important to know what your scheme is likely to give you in retirement.

A job for life no longer seems to exist in Britain today. Consequently, many people have acquired several pensions as a result of previous employment. It is absolutely critical that these schemes are reviewed regularly because of changes in legislation, changes to pension schemes and changes to your own individual circumstances.

What’s more, some of the terminology used can be difficult to understand. At Arrow Financial Services we are known for providing jargon free advice and would be happy to explain the following common terms, which you may find confusing:

Final Salary
Defined Benefit
Defined contribution
Money Purchase
NEST
Auto-enrolment
Group Stakeholder
Group Personal Pension

The many types of schemes that exist make it difficult for people to understand what their particular scheme provides. The question is, do you understand what you have? Not understanding your retirement planning can have far reaching consequences.