OrangeGenie Stakeholder Pension
Do you want to be up to 48% better off? You can be with the OrangeGenie Stakeholder Pension
You can dramatically reduce your income tax, employers and employees national insurance payments by asking us to transfer part of your income into your own pension plan within the OrangeGenie Stakeholder Pension.
We have invited specialist Independent Financial Advisers ContractorMoney to set up and administer the group stakeholder pension scheme for us. They work closely with us to ensure that you gain maximum benefit from your time at OrangeGenie, we have invited them to put together a few FAQs:
- Why is the scheme so tax efficient for me?
- What are the costs?
- How flexible is the scheme?
- What happens if I leave OrangeGenie?
- Where is my money invested?
- How do I find out more?
- How do I join?
Why is the scheme so tax efficient for me?
A pension is an essential way of ensuring that you use the OrangeGenie service as tax efficiently as possible. Any money transferred to the scheme avoids any deductions the taxman would usually make on your earnings and you will be between 39% and 48% better off when compared to taking this money as salary. Our in-house scheme is uniquely funded for you via an employer contribution and this is what makes the scheme more tax efficient for you, than any existing privately funded pension that you may have.
What are the costs?
The OrangeGenie scheme is a stakeholder pension and has no initial set up charges. This means that every contribution starts working for you immediately without any heavy fees and charges associated with many older style pension schemes. Your plan also benefits form very low ongoing admin charges of 1% per annum so it is well below that government cap on stakeholder pensions.
How flexible is the scheme?
Low charges and flexibility are important to many investors, but are essential features for contractors. Contractors are more likely to need to stop and restart contributions as income and working patterns change. You may return to a permanent position at some stage and therefore have no need for a personally funded pension. Alternatively you may work abroad in which case you could be ineligible to fund a UK pension scheme. The OrangeGenie pension scheme allows you the freedom to stop, increase or decrease contributions on a month-to-month basis and without any penalties.
What happens if I leave OrangeGenie?
You still have the freedom to continue funding the plan as a personal contribution or you may even be able to get your new employer to continue payments on your behalf.
Where is my money invested?
Your pension is invested with Scottish Life. Independent ContractorMoney advisers would be happy to review any existing investments you already have, to give you an unbiased view of whether it makes sense for you to consolidate these into a single plan. They can also recommend a range of funds that best suit your requirements. Once invested, the funds will be held in a tax efficient environment, with a good chance to grow to help fund your lifestyle when you retire (usually anytime after 55).
How do I find out more?
To learn more about the scheme and to receive a personalised illustration, please complete our online pension finder
How do I join?
It couldn't be easier to join, complete the online pension finder and submit it to us. One of our advisors will contact you and talk to you about the scheme and how much you could be saving on your next invoice.