Personal Pension Plan

A personal pension is a flexible way to save for your retirement. When you’re used to a certain standard of living, the state pension alone may not be enough. That’s why it pays to start a pension as soon as you can. You can claim tax relief and if you pay basic rate tax, we’ll do all the paperwork for you. The Personal Pension Plan offers government tax relief, stock market investing and the option to take tax-free cash when you retire. 

You can get access to your money from age 55, when you can use it to provide an income for yourself and your partner, or take lump sums to help children or grandchildren. And with the new pension changes, it’s even easier to use your pension savings exactly the way you want to.

Personal Pension Plan

  • Tax relief can boost your savings
  • Invest in a range of funds or choose a Lifestyle profile
  • Make as many regular or ad-hoc payments as you like
  • Increase, decrease, stop and start your payments to suit your circumstances
  • Flexible ways to take your savings at retirement

The Personal Pension Plan may be right for you if you:

  • Want to invest in the stock market for the long term
  • Want to benefit from government tax relief on your savings
  • Don’t need access to your money until you’re 55 or over
  • Can make regular or ad-hoc payments
  • Want a choice of investment funds

To find out more about the Personal Pension Plan please read the plan information shown here. It gives you all the detail you need to understand how the plan works and which funds you can invest in.

Key Features
Guide to Investment Funds
Guide to Investment Risk

Key forms:

Fund Switch form
Transfer application form
Nomination of Beneficiaries form
Lifetime Allowance Calculation form
Lifetime Allowance Declaration form

General information:

Annual Benefit Statement

In addition to managing your pension in line with the scheme rules and regulations laid down by the government, we have also appointed an independent governance committee whose task it is to act in the interest of all scheme members.

These people act like trustees to ensure that you receive value for money from the scheme. So they look at things like charges, administration, communication and the funds we manage. They can challenge how we run our pension schemes and if any scheme is not providing value for money, they can recommend remedial action.

The independent committee meets at least four times a year and is made up of the following members:

Chris MurrayChristopher Murray (Chair) - Director, Smith & Williamson Financial Services Limited

Professional qualifications:

  • Fellow of the Pensions Management Institute
  • Diploma of the Personal Finance Society

Mr Murray has extensive experience of advising companies on pension schemes and working with trustees, as well as acting in a trustee capacity on behalf of Smith & Williamson Trust Corporation Limited. He is also a partner of Smith & Williamson LLP. 

Naomi L'EstrangeNaomi L’Estrange - Director, 20-20 Trustee Services Limited

Professional qualifications:

  • Solicitor (current practising certificate)
  • Qualified Executive Coach
  • Certificate in Advanced Business Management from Ashridge

Ms L'Estrange has 20 years' experience as a pension lawyer and a director of the Pension Protection Fund. She advised the Institute of Actuaries and many individual pension schemes and was seconded to Government to advise on Pensions Act 2004. As the PPF's Director of Strategy and Policy, Ms L'Estrange has worked with various Government departments and the EU on matters of pension policy. She is a professional trustee to a number of pension schemes of all types.

Sarah FarrantSarah Farrant - Director, Sarah Farrant Consulting

Professional qualifications:

  • Fellow of the Institute of Actuaries

Ms Farrant has been a qualified actuary for over 25 years. She has been Scheme Actuary to many schemes, including a number of FTSE 100 and FTSE 250 companies and has enjoyed senior roles with national employee benefit consultancies and a ‘Big Four’ firm of Chartered Accountants.

Mark GarnettMark Garnett - Director, Advisory Investment Services Limited

Professional qualifications:

  • Associate of the Chartered Institute for Securities and Investment
  • Associate of the Chartered Insurance Institute

Mr Garnett provides investment management and advice for pension schemes and is former Partner of Smith & Williamson Investment Management LLP. He advises employers and boards of trustees, and regularly presents on the economy and investment markets.

Adam TookeyAdam Tookey - Head of Product Management, Link Fund Solutions

Mr Tookey is responsible for the development and on-going product management of all funds operated by Link Fund Solutions Limited, including those offered through the pension plan. He has more than 20 years asset management experience, working for a number of global firms.

The Independent Governance Committee welcomes views from members so for more information or to get in contact with the committee chairman, email Additionally, available for view are the committee's Terms of ReferenceConflicts of Interest Policy and Annual Report.


Self-employed Stuart wants the flexibility to make variable payments

Stuart is in his mid thirties and has just become self-employed. He had a company pension with his previous employer and wants to use the LFS Personal Pension Plan to continue saving for his retirement. He chooses this plan as it gives him the flexibility to vary his regular payments. This is useful in the early days of his business when he no longer receives a monthly wage. He also knows that if he dies before he reaches 75, his savings will be passed on to his family tax-free.

This example is for illustration only. It should not be taken as advice. None of the case studies on this site are endorsed by the Independent Governance Committee.

Ready to apply?

We strongly recommend that you seek advice from a regulated financial adviser, but you can invest directly in the Personal Pension Plan through LFS. However, your financial adviser will help you decide whether the plan is right for your personal circumstances. They will also help you through the application process. They may charge for their time.

Find a financial adviser

You can find an FCA authorised financial adviser at or by calling 0330 1000 755, or you can visit the YourMoneyAdviser website at and key in your location to find an adviser near to you.

Use Pension Wise

Pension Wise is a government service that offers people approaching retirement free, impartial guidance about how to make best use of their pension savings.
030 0330 1001

Call us on 0345 055 0606 for more information.

Not sure? Find out about a different product

  • Income Drawdown Plan
    • Take up to 25% of your pension fund as tax-free cash
    • Choose what taxable income you need
    • Your pension fund remains invested
    • A medium to long-term investment
    • Choose where to invest from a range of portfolios
    • Pass on your remaining savings when you die
  • Cash Fund Drawdown
    • Designed for those who want to deplete their pension fund over a short time
    • Take up to 25% of your pension fund as tax-free cash
    • Choose what taxable cash withdrawals you need
    • Invests in the LF Cash Fund
    • Pass on your remaining savings when you die
  • Capped Drawdown Plan
    • Closed to new business
    • Taxable income
    • Your pension fund remains invested
    • A medium to long-term investment
    • Invests in a range of funds and portfolios
    • Pass on your remaining savings when you die
    • Existing investors call us on 0345 055 0606
  • Stakeholder Pension Scheme
    • Closed to new business
    • Receive tax relief on your pension savings
    • Simple and straightforward investment choices
    • Annual Management Charge not exceeding 1%
    • Flexible ways to pay to suit your circumstances
    • Your employer can make contributions too