Pensions and Nest





LMJ is a firm of independent financial advisers specialising in the management of investment portfolios and pensions. We have been helping clients navigate complex financial markets since 2001 and from those very early days, our business has evolved primarily through client recommendations. Read More

Pensions and
Retirement and NEST

Pensions Explained

What is a Pension?
A pension is a form of savings account which provides people with a regular income, usually after retirement. The minimum age at which one can retire and take benefits from their pension is 55. They may be set up by an employer, the government or other institutions such as employer associations or trade unions.

There are three main types of Pension: A Personal Pension, a Company Scheme Pension and the State Pension.

The simplest form of pension is a Stakeholder pension, which is a Personal Pension

Why set up a pension?
Arranging a pension provision is vital if you do not want to face poverty when you come to retire in your sixties. The only way you can be certain of financial security when you retire is to start thinking about your pension when you are young! By saving money from an early age, even if it is just small amounts, you can eventually end up with a substantial amount to live on once you reach retirement.

The best option, if it is available, is to join your company's occupational pension scheme because most employers will top up your contributions.

However, the freedom of a personal pension is also available. Personal Pensions can be started by anyone at any age.

Government changes to the way you could receive your pension benefits
From April 2015, from age 55, whatever the size of a person's defined contribution pension pot, we propose that they'll be able to take it how they want, subject to their marginal rate of income tax in that year. 25% of their pot will remain tax-free. There will be more flexibility. People who continue to want the security of an annuity will be able to purchase one and people who want greater control over their finances can drawdown their pension as they see fit. Those who want to keep their pension invested and drawdown from it over time will be able to do so.

Individual Pensions
Company Pension Schemes
What is NEST?
The State Pension

David Simmonds Financial Advisor IFA East Peckham


LMJ Financial Management Ltd

Upper South Hall
Bullen Farm Business Centre
Bullen Lane

East Peckham
Kent, TN12 5LX

Tel: 01732 874111
Fax: 01732 874222

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LMJ Financial Management Ltd, Upper South Hall, Bullen Farm Business Centre, Bullen Lane, East Peckham, Tonbridge, Kent, TN12 5LX
Tel: 01732 874111 Fax: 01732 874222 Email:

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