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Pension

How does it work?

You make two payments per month. One to the lender to repay the interest on your borrowings and another into a personal pension plan. The plan is to build up your pension fund sufficiently to take out enough tax free cash to repay the loan and provide you with a retirement income.

ADVANTAGES:

  1. Has tax advantages as the contributions you make to the pension attract tax relief at the highest rate of tax you pay.

DISADVANTAGES:

  1. You must ensure your pension is well funded so that you have sufficient to repay your loan and provide for your retirement.
  2. The lump sum is paid on retirement which may mean you are paying interest on the loan for longer than 25 years.
  3. You cannot access the pension fund to repay the mortgage until retirement age.

A pension is a long term investment. The fund value may fluctuate and can go down.

Your home may be repossessed if you do not keep up repayments on your mortgage.


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Company address:
GCF Financial Ltd, Westhill Business Centre, Arnhall Business Park, Westhill, Aberdeenshire, AB32 6UF
T: 0845 390 1230
F: 0845 390 1240

Email: enquiries@gcf-ltd.com

Registration address:
23 Rubislaw Terrace, Aberdeen AB10 1XE
Registration number: SC297113
Registered in: Scotland

GCF Financial Ltd is authorised and regulated by the Financial Services Authority. GCF Financial Ltd is entered on the FSA register (www.fsa.gov.uk/register/) under reference 511660.

The FSA do not regulate National savings products, loans, Will writing and some forms of mortgage, offshore funds and inheritance tax planning.

The guidance and/or advice contained within this website is subject to the UK regulatory regime and is therefore primarily restricted to consumers based in the UK.

For Investment planning we make recommendations based upon the Whole-of-Market

Telephone: 0845 390 1230 | enquiries@gcf-ltd.com

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