Marks & Spencer explainer
Top Talent
Description
Vocal Characteristics
Language
EnglishVoice Age
Middle Aged (35-54)Accents
British (England - South East - Oxford, Sussex) British (General) British (Received Pronunciation - RP, BBC)Transcript
Note: Transcripts are generated using speech recognition software and may contain errors.
Healthy Finances. Week. Taking care of your pension There are two MNS pension schemes. Your pension from the defined benefit scheme is based on your salary and how long you were a member of the scheme. Four. If you paid contributions known as a VCs, these will be in a separate pot. Your pension from the D C scheme is made up of the money you've saved, plus the money MNS has paid in and any investment returns. The more you save and the better your investments do, the more you get it. Retirement. The earliest you can take your pension is your 55th birthday. The latest is your 70th birthday. You can take your pensions at different times and keep working after you've taken them. At retirement, you can take up to 25% of your pension savings from both schemes as tax free cash as well as taking tax free cash. Your DB pension gives you a guaranteed income paid for life. And with the D C scheme, you can use any remaining savings for more guaranteed income, cash, lump sums or a flexible income as and when you need it, make sure you check up on your pensions regularly to see how they're growing. The best way to do this is by logging into your online pension accounts.