For any employee, a huge boost to cover any potential shortfall.
Jon has chosen to retire at 65.With his monthly contribution of £200 for the next 15 years, and assuming his pension has a growth rate of 7% and an inflation level of 2% each year, his pension at 65 could be worth £54,445.33 (including the effect of inflation).
By using MyPensionCare for his day-to-day shopping, Jon has been able to generate £400/year paid into his pension pot. This money also attracts tax relief, which means he has earned an extra £480 on top of his contributions.Now let's look at the result of all this:
With MyPensionCare, his pension could be worth £63,156.58 (including the effect of inflation), which is more than 16% of the pension he would have had without MyPensionCare.
Jon Monre
Payroll Administrator
For every self-employed person, a valuable aid to double your pension plan.
Pamela had no pension plan due to her low income.Using MyPensionCare she was able to generate the following commissions:
• Groceries - £50 / year
• Insurances and Utilities - £250 / year
• Household goods and new clothes - £50 / year
• Business Purchase - £150 / year
She earned a total contribution of £500 paid directly into her savings plan.With a personal contribution of £500 per year, this brings the total annual contribution to £1250 including tax relief
She could end up with a pension at age 65 of £44,448.18 in retirement, without having to break the bank.
Pamela Smart
Private Housekeeper-Cook
For sole directors, build up a pension from scratch.
Peter runs a garage, and spends around £3000 each month buying parts and accessories for his clients. Each time he buys through MyPensionCare , the retailer pays him 3% of the total amount spent, which amounts to £1080 per year.
By using MyPensionCare for his work related expenses, Peter will generate a pension of £62,667.71 without having to take a penny out of his pocket.
Peter Kay
Sole Director