stakeholder pensions

YorkshireBoy

Editor wrote:

Hi Yorkshire Boy


I've been in my (Scottish Life) company scheme since October 2003. I've paid in £3,650 net of tax relief, yet my fund value tonight was £9,450.

The reasons...

1/ Tax relief
2/ 4.5% employer contributions
3/ Contracted out payments
4/ Fund growth

How much was paid in from the employer and the NI rebates, on top of your 3,650?

It would be helpful to know, so Moneysavers can see the importance of the "free money".

Personal Contributions.. £3,650.00
Tax Relief................... £1,029.49
Employer Contributions.. £2,347.22
NICO.......................... £1,453.77 (same again Sept 05? )
==========================
Total Payments.............£8,480.48
==========================
Total Fund Value...........£9,437.94
Inc Protected Rights of.. £1,627.08

My latest projection (with 20 years to go / 7% growth / no increase in payments) shows a cash fund of nearly £200K.