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Company and occupational pension schemes

Company and occupational pension schemes (OPS) are employer sponsored schemes, set up by employers for their staff. It is most often in your best interest to join an OPS if it is available to you. Speak to one of our independent financial advisers about the best option for you.


Occupational pension schemesfinance strength

Occupational pension schemes are regulated by the Pensions Regulator, and have trustees who are responsible for the fair, legal and proper running of the schemes. There are different types of company and occupational pension schemes.

Final salary pension schemes

Also known as defined benefit schemes, you, your employer or both of you will make monthly contributions to your pension fund.

Upon retirement, you'll receive a monthly pension on top of your state pension (where applicable), based on your earnings and length of pensionable employment.

Defined contribution pension schemes

Also known as a “money purchase” scheme, the monthly contributions are put into a personal fund for the employee in question. When you retire, you are able to use the fund to provide income.

There's also the option to take part of the fund as a lump sum upon retirement, which is tax-free. For smaller funds, you can take the whole amount but only 25% is tax-free. This can buy a special retirement treat, or, more commonly, an annuity to provide further financial stability throughout retirement.

Pensions for self-employed, partnerships, directors and executives

There are a variety of pension solutions available for non-employees too. Contact us for free initial advice on personal pensions, stakeholder pensions, or any other investment or pension scheme for non-employees.

Contact our pensions advisers to arrange an appointmentTimeMgt

While we are based in Glasgow, we are happy to travel to visit clients across Scotland and the rest of the UK. For free initial company or occupational pensions advice from our experienced financial advisers, contact us on 0141 272 0000 or fill out our online enquiry form.