You will be invited to your introductory pension meeting once you have been employed with Homeprotect for 6-months. This meeting is about engaging with you so that you gain a true understanding in plain everyday terms about how your pension fund works, how considered changes we can make for you aim to greatly benefit your long-term retirement income and how we monitor things going forwards with you.
The earlier you take action, the greater the potential growth.
Build a pension fund that gives you freedom and flexibility later in life.
Maximise tax reliefs and employer contributions available to you.
Access independent pension and investment advice provided by Homeprotect.
Homeprotect take a proactive approach to workplace benefits, helping you get the most from your employment package.
Patterson-Mills has been appointed by Homeprotect to provide you with the qualified and completely independent guidance on all things pension and finance that you deserve. Book your introductory pension meeting with us to take full advantage of this valuable benefit.
Income tax reliefs apply at your highest rate between 20% and 45% and, because of the way we have set up the pension scheme using salary exchange, you also save your own National Insurance Contributions on every contribution you make.
This amounts to extra savings alone of 8% for basic rate taxpayers and 2% for higher rate taxpayers. This extra saving will be illustrated for you with your own figures at your meeting, to help target your retirement income objective.
Without salary exchange, your gross salary is first processed through payroll, with income tax and National Insurance deducted before you receive your take-home pay. Any pension contribution you make then comes from this net pay, and although you still benefit from basic rate tax relief, higher rate tax payers must claim the higher rate tax relief manually, which involves additional forms and time. You do not benefit from any National Insurance savings this way, either.
With salary exchange, your pension contribution is taken care of on your behalf and done before payroll, income tax, and National Insurance are applied, meaning you are not taxed on that portion of your salary. This allows both you and your employer to benefit from National Insurance savings, while also removing the need for extra paperwork. You do not lose any state pension entitlement due to National Insurance savings.
For example, if you agree to contribute 5% of your pay into your pension through salary exchange, it is as if your employer pays you 95% of your salary, with the remaining 5% directed straight into your pension fund.
Although pension schemes invest your money for you, we know from experience that returns can vary widely over the longer term. This is affected greatly by things like:
This is why optimising things now, and then meeting us annually to monitor, review, and update, is the best way to maximise your future pension. The earlier the better, and that is what your 1-2-1 pension meeting is all about.
A focused sixty minutes that gives you clarity, comfort, and control over your pension.
We begin with letting you know what we will be discussing throughout the session.
Bring anything on your mind, including previous schemes or funds you hold.
A plain-English walkthrough of the mechanics and the levers you can pull.
We explain, with real examples, the risk level and asset allocations available to fit your objectives.
See projected benefits in today’s money and how enhanced contributions could boost outcomes.
We clearly explain how we monitor, update, and maximise your funds, as well as how we meet with you each year.
Our meeting is entirely confidential. We match your ideal investment approach to your goals and explain every step. The generous Homeprotect arrangement helps you choose a contribution rate that fits your budget while aiming to maximise long-term returns.
Understand how your pension works and what to do next.
Know your risk level and investment mix with real examples.
See your numbers and shape contributions to fit your budget.
Your pension really matters. Investing an hour today can support your financial wellbeing for many years to come.
