Pensions have long been a highly tax-efficient way to save for retirement. Skandia offers a number of retirement planning solutions that can help you to look forward to your future with confidence, secure in the knowledge that you can afford to maintain your chosen lifestyle.

Why choose a pension?

Though not the only solution, investing in a pension can form an important part of your planning for retirement.

Why choose a Skandia pension?

The Skandia pension proposition offers a number of benefits as standard:

Tax advantages

• A big attraction of pensions is the ability to transform taxable income into highly tax-efficient long-term savings.
• Normally up to 25% of your fund can be taken as a tax-free sum when you start taking benefits.

Flexibility

• Skandia’s individual pension schemes accept regular contributions, single contributions and transfer payments from other UK-registered pension schemes or overseas schemes approved by Skandia.
• Regular contributions can be stopped, reduced or increased at any time without incurring extra costs or penalties.

Fund choice

With Skandia, the choice of where to invest your pension contributions is yours. With around 1,000 funds* to choose from you and your financial adviser can tailor your investments precisely to your needs.

What pension schemes does Skandia offer?

Collective Retirement Account (CRA)
The Collective Retirement Account is a registered pension scheme available on the Skandia Investment Solutions platform. This allows you to make contributions personally or through your employer. It will also accept transfers from other registered pension schemes.

Money paid into the pension may be invested into Skandia’s wide range of unit-linked investment funds, chosen by you and your financial adviser. When you reach retirement you can decide to take all your benefits at the same time or only take some of the benefits, allowing greater flexibility.

You can find out more about the Collective Retirement Account on our Literature library.

Skandia Personal Pension
The Skandia personal pension is a registered pension scheme with Skandia Life Assurance Limited, offering access to around 450 unit-linked funds. 

Self-Invested Personal Pension (SIPP)
The Skandia SIPP is a tax-efficient, registered personal pension scheme. It is a type of personal pension with a wider investment choice, as the investments are not restricted to funds. Currently a SIPP can hold investments such as commercial property, land and stocks and shares. The scheme is administered by A.J. Bell Limited.

To find out more about pensions from Skandia, please speak to a financial adviser who will be able to discuss your options and recommend products to suit your needs.

You can also read more on the retirement planning section of our site.

*You can access around 1,000 funds when investing in the Skandia Collective Retirement Account through Skandia Investment Solutions. Skandia Life Assurance Limited pension schemes offer access to around 450 unit-linked funds.