A Personal Pension Plan is another name used to describe a retirement annuity contract (RAC) or policy issued by a life assurance company to an individual.

Personal pensions allow you to build up a pension fund to provide an income at any time between the ages of 60 and 75 and are available to self-employed people and employees who are in non-pensionable employment. They can make a regular contribution, normally on a monthly basis, or single contributions at any time.

There is a wide range of products available in the market place for pension and retirement planning, with different fund choices and charging structures professional advice should be sought as to which product may suit you best.

Contact Servatus for further information.

Author: Geoff Whelan

Geoff graduated from UCD / Institute of Bankers in May 2009 with a degree in financial Services. A (QFA) Qualified Financial Advisor since 2005, Geoff has strived to build on his knowledge of the financial services industry, particularly in the areas of personal financial planning , retirement planning and wealth management.