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Old 15.05.2008, 18:36
Shorrick Mk2 Shorrick Mk2 is offline
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Re: What pensions become

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I understand about the payments (1, 2 and 3) but I have not been able to find any information on the forum about what format these pensions end up as (particularly regarding the occupational pillar 2 pension): are they final salary? annuity?
Pillar one is annuity. Pillar two and three can be withdrawn either as capital or as an annuity

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managed by a fund manager?
Pillar one does its own management. Pillar two can be done either in-house if it's a bank or delegated to an investment manager. Pillar three is always managed by the financial institution who sells it to you.

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should I expect my employer to contribute/match my contributions?
Match the obligatory part, not match what you choose to contribute extra. Pension Second Pillar contributions

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are they taxed on drawdown?
Yes.

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do I have any say in how they are invested (like the UK self-trade pensions)?
Pillar one and two no, pillar three you can choose among several "risk profiles".

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does anyone know of a link where I can investigate this more?
It's all been done here


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In terms of percentages, the contract offer details approximately 7.6% pillar 2 and the standard 5.05% pillar 1.

Thanks for any assistance with these questions!
GVAbound
Pillar 1 is fixed. Pillar two increases with age.
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