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L&G pension guide aims to aid advisers

Legal & General is offering IFAs a booklet explaining the full range of

pension options in the wake of the launch of stakeholder schemes.

L&G says the booklet will help IFAs explain the full pension picture to

clients rather than just focusing on stakeholder.

The booklet covers the key issues on pensions, including what consumers

should do if they do not have a pension and the tax implications.

It alerts people to the need for a decent pension in light of the increase

in life expectancy to age 75 for a man and 80 for a woman compared with 49

for men and 45 for women in 1901.

It warns people not to rely on the state to look after them but to

calculate how much pension they will need and look into joining employers&#39

pension schemes.

Graphs are used to illustrate pension options for the unemployed,

employed, self-emp-loyed and company directors, including basic state

pensions, Serps, stakeholder, company pensions and executive pensions and

how people can imp-rove their current pension.

The booklet explains the stakeholder rules, qualifying for a scheme and

tax top-ups.

It also touches on the impact of divorce on pensions, who is entitled to

what and new legislation which gives courts power to split pension

entitlements.

Pensions marketing director Andy Agar says: “Our pension guide is an easy

to read reference guide that is both practical and factual. It has been

designed specifically to help IFAs make the topic of pensions as

interesting and understandable as possible for their clients.”

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