Whatever your situation, it is very advisable to plan in a pension for the future. A pension is a source of regular money to live on in your retirement. It comes from the benefits of a type of savings account called a pension plan and is one of the most tax-efficient ways of saving money.

The government's research highlights the importance of having a pension plan.

• Overall 29% of men compared to only 18% of women have occupational pensions.
• For women aged between 35 and 44 the difference has grown to 44% of men and 28% women.

Successful planning and preparation for a secure and comfortable retirement however, has become a sensitive issue in recent times with the retirement age for women currently at 60 but gradually increasing between 2010 and 2020 to 65 years old.

The government also introduced new pension legislation on the 6th April 2006 which is designed to simplify pension provision in the UK. This legislation affects all existing pension plans including AVC's, personal pensions, self invested pensions, all company pension schemes, retirement annuity plans, and income drawdown.

Currently, there are increasing numbers of women who do not have any savings or pension plans and who will therefore have to rely solely on the state pension in their old age. At ISB we understand the financial implications faced by women preparing for retirement but we can also advise on a pension plan for women who are just starting to invest in their future.

At ISB we can offer many different types of pension products to choose from including:

• Stakeholder Pension plan
• Personal Pension plan
• Occupational Pensions plan
• Self Invested Personal Pension plan

No matter whether you can contribute a small or larger monthly amount to your pension, we, at ISB will ensure that the payment you make is in line with your earnings and outgoings so that it remains within your budget.