Occupational pensions
Personal Pensions
State pensions
Annuity

 
All are based on money purchase schemes. The final fund in based on the total value of assets or investments in the pension fund.

Rules for funding and withdrawing are identical for all personal pensions.
   
 

    Fixed fees
Limited investment funds
Limited fund management
   
     

 

 STAKEHOLDER   Employed and self employed.
Not for high income earners
           
    PERSONAL PENSIONS
      
           
  SIPPS       PERSONAL PENSIONS
 Employed & Self employed
           
  Higher charges.
Greater variety of available investments e.g. commercial property, derivatives, gold bulion		         Wider variety of funds. Greater management so higher fees.
               
               
               
    ANNUITY RATES
Standard annuity.  Pension fund = £100,000
Annuity based after