Retirement Income & Pension Planning

Truth. Simplicity. Transparency.

Retirement Income & Pension Planning
Retirement Income & Pension Planning
Transferring out of a final salary pension is unlikely to be in the best interests of most people.

Millions of people are questioning if they are saving enough for retirement according to a recent survey by the Pensions and Lifetime Savings Association (PLSA 2019)*
  • Over half of savers not confident they are saving enough for retirement
  • Over a third (37%) wrongly think the auto-enrolment minimum pension contribution level is the Government’s ‘recommended amount’ to be comfortable in retirement.

Most people during their career accumulate a number of different pension plans. Yet maintaining separate plans is often complicated – and may lead to lost investment opportunities, exposure to undue risk and higher costs. We can help you avoid these problems by completing a full analysis of your retirement needs and pension values.

It is never too soon to think about planning for a comfortable retirement.

Our Services & Expertise

We can work with you to develop a strategy to help you build up the funds you’ll need to enjoy your retirement years to the full.

We can give full advice on personal pensions, getting the most suitable annuity rates, stakeholder pensions, self invested personal pensions (SIPPs), small self-administered schemes and equity release.

Key pension services: pension review, pension consolidation, pension transfers, pension draw down and defined benefit pension transfer. Our defined benefit pension transfer guide will help you better understand your scheme, including the benefits and drawbacks it may have, and will help you decide whether you want to take advice on your pension.

If you are considering a Defined Benefit Pension Transfer, please read our Self Triage Client Guide for further information. ”

Find out more about pensions in our video below.

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Most people during their career accumulate a number of different pension plans. Yet maintaining separate plans is often complicated – and may lead to lost investment opportunities, exposure to undue risk and higher costs. We can help you avoid these problems by completing a full pension review, looking at your retirement needs and pension values.

We will review your retirement funds and consider whether you could benefit from improved charges, access to more appropriate investment strategies and more simplified administration. We are authorised and qualified to do defined benefit pension transfers.

Please get in touch with Ian Brown, our pensions specialist, to discuss defined benefit pension transfers, pension draw down and pension consolidation.

If you are considering a Defined Benefit Pension Transfer, please read our Self Triage Client Guide for further information. ”

There are two ways you can use your pensions to create a retirement income: buy an annuity or invest in flexi-access drawdown.

An annuity will pay you an income until you die. Guaranteed. This is the annuity’s big advantage and makes it the starting point for all your retirement planning. We believe it’s essential for you to receive a regular income to cover
your day-to-day expenses. However, guarantees come at a cost.

The amount of income an annuity pays you depends on two things: the size of your pension fund, and how long you might live based on how old you are now. So the older you are the more income you will receive. Your annuity payments form part of your total taxable income and incur income tax.

Flexible Access Drawdown
Income drawdown has been around for a while but there were restrictions
wrapped around it. These restrictions have now gone, creating flexi-access
drawdown. You can think of flexi-access drawdown as a bit like a bank account.
You keep control of your pension fund, investing it and drawing down income
as you need it, when you need it. You have complete flexibility over how much you take out and how often you take it. Once you have drawn your 25% tax-free cash entitlement any further withdrawals form part of your total taxable income and incur income tax. The complete flexibility that flexi-access drawdown gives you is its big advantage.

Tax treatment varies according to individual circumstances and is subject to change.

Transferring out of a final salary pension is unlikely to be in the best interests of most people.

 

Your home may be repossessed if you do not keep up repayments on your mortgage.

The value of pensions and investments and the income they produce can fall as well as rise. You may get back less than you invested.

What makes us different?

Start your journey to a better financial future

You can talk to us in confidence about protecting your income and your family, residential and business mortgages, pensions, SIPPs, annuities, income drawdown, inheritance tax, wills and tax efficient investments. The first meeting is at our expense and without any obligation

You can contact us via telephone, email, or use the contact form below:







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