Laszlo Czibok, about retirement:
We propose that you should establish your own company as soon as possible!
Why? Because:
- Now we can establsih your own English company for 120 pound. Here you can find the comparative price list. As soon as the company has been established, it must be registered, so that it could have some employees. The Paye registration arrives at the seat address in general within 2 weeks which can be activated by the book keeper of the firm. After the activation the payroll accounting can be started. The payroll accounting is possible weekly, every two weeks or every four weeks. The payroll accounting must take into consideration the sum of the present minimum wage which can never be lower than the current minimum wage.
Because you get into the English pension scheme after a 10-year-long legal relationship as an employee and you can be entitled to the English basic pension automatically, which is now 155 Pound!
This is 620 Pound/month!
This sum can be also obtained if you do not live in England.
Well, do you think it is worth its while?
It means that by paying a monthly contribution of 13.- pound you can already be entitled to 620.- pound after 10 years!!!
(+ in addition to the pension obtained after the working years in other contries!!!)
We think that it is worth the price!
In the chart below you can observe how the payment of insurance conribution is divided between the employer and the employee:
Excess of insurance contribution at the time of joining and its formation in the future:
| Date | Minimum employer’s contribution | Total contribution |
| before 30/09/2017 | 1% | 2% (with an employer’s contribution of 1%) |
| between 01/10/2017 and 05/04/2019 | 2% | 5% (with an employer’s contribution of 3%) |
| from 06/04/2019 | 3% | 8% (with an employer’s contribution of 5%) |
Consequently, the payment of the 130 pound mentioned as an example is devided as follows:
- The employer pays 6.53.- pound/month
- The employee pays: 5.68.-fpound/month.
But what is necessery to get entitled to the English pension?
- You must be the citizen of the EU,
- You must have an English company (if you do not have any, klick on the link and order one from us)
- You must have a NI Number (if you do not have any, klick on the link and order one from us)
- You must have an English address (if you do not have any, klick on the link and order one from us)
But let us count a little bit:
In the first year:
- Fee of the English company establishment with a seat service of 1 year: 120.- pound
- Paye registration (for payroll accounting) 60.- pound
- Bookkeeping fee: 440.- pound/year
- Payroll accounting fee: 156.- pound/year
- English address: 220.- pound/year ( if you have not got any acquaintances or relatives in England)
- NI Number: The NI Number is necessary to become an employee in one’s own company: 50.- pound.
- Monthly contribution payment of 13.- pound: 156.- pound/year
Altogether: 1.202.- pound in the first year.
From the second year:
- Seat service for one year: 100.- pound/year
- Bookkeeping fee: 440.- pound/year
- Payroll accounting fee: 156.- pound/year
- English address: 220.- pound/year (if you have not got any acquantances or relatives in England)
- Monthly contribution payment fo 13.- pound: 156.- pound/year
Altogether: 1.072.- pound from the second year on, every year.
This means that only £ 90 pounds have to pay at least 10 years each month to retire, from then you get £ 620 monthly in exchange, from the English state!
Yes, we are aware of the fact that a retirement saving account can be cheaper,
but please, take it into consideration that you cannot do the followings with a retirement saving account:
- Start an undertaking
- Enter the international market
- Get hold of competition advantage (also against the other English companies)
- Register on the Kickstarter
- Purchase without VAT in the EU
- + Get hold of income
- + Collect dividend
- Employ further employees. For example: Employ further family members so that they could also have a good pension. Here the costs are formed quite favourable considering that the further employees only need an address, an NI number and a monthly payment of 13.- pound. In the first year: 426.- pound, while from the second year on you have to reckon with just 376.- pound per year after every additional employee (family member).
- Establish business relations
- Win competition projects
- Make use of subsidies and
- Obtain the English citizenship
It is also possible to pay in a pension fund besides the basic pension,
the costs of which are presented as follows:
- So as to obtain the basic pension, the following payment is necessery in monthly devision in the first year: Ł 102 / month, from the second year to 10 years per month Ł 90 / month. Other family members per month (376.- pound/counted with 12 months =31.33.-pound/month)
- Fee of the private pension fund payment: 10.- pound/month
- Registration fee of the private pension fund account: 0.- pound
- Management of the pension fund account for the employer and the employee: 120.- pound/year
Altogether the extra charges of the private pension fund is 240.- pound/year for the company manager, and the fee of the other family members per head (fee of the pension fund payment is minimum 10.- pound/month, and the managment of the pension account for the employer: 60.- pound/year) 120 +60.- pound = 180.- pound/year.
Costs of the title to the English basic pension and costs of the private pension fund membership altogether:
For the manager of the company are:
Costs of the basic pension in the first year: Ł 1.202 pound, the first year Ł 100 pound/ month
Costs of the basic pension from the second year, every year: Ł 1.072 pound, and every year: Ł 90 pound/year
Extra charges of the private pension fund: Ł 240.- pound/year
So in the first year altogether (1.202+240) Ł 1.442.- pound
So from the second year altogether (1.072+240) 1.312.- pound.
For other family members are
Costs of the basic pension in the first year: with a payment of 426.- pound/year must be reckoned with in the case of every other employee (family member).
Costs of the basic pension from the second year on: with a payment of 376.- pound/year must be reckoned with in the case of every other employee (family member)
Extra charges of the private pension fund: 240.- pound/year
So in the first year altogether (426+240) 666.- pound
So from the second year on altogether (376+240) 616.-pound
And that is not all!
No matter how old you are at the moment, it is never late to start the 10 qualification years! If you are just 20 years old, you have already ensured your English basic pension for your retirement years by the age of 30!
If you ara just 45 years old, you have already secured yourself for the English basic pension by the age of 55! It is not necessary to make use of more than 10 years so as to obtain the English basic pension. If you continue paying the contributions also after the 10th year, then you will not only be entitled to the basic pension! It does not matter whether you have your full-time job in Hungary or somewhere else, the English basic pension can be got with a part-time job, as well!
Well, there is only one question left. Have we convinced you?
If not, then turn to us by using one of our accessabilities and we will answer all your emerging questions with pleasure.
If so, then start your retirement saving as soon as possbile , and
The UK is waiting for you! – join the English company foundation
and ask our help for any financial issues. We are looking forward to contacting you as soon as possible!
Phone: +44 (0) 1357 – 340 – 000;
Email: ac*********@sy********.com
Skype: Symfalogic Corporation
To start establishing your English company, fill in the form below:
Visits: 2238
