Retirement planning

Most of us look forward to the day when we can retire but some of us worry that our pensions and investments may be insufficient to maintain our lifestyles in the manner to which we have become accustomed. That’s why it’s vital to get expert, independent pension advice as early as possible.

Give us a call and let us help you work out whether:

  • You’re on track to be able to maintain your lifestyle in retirement
  • You can afford to retire early
  • You can pass your pension benefits on to your dependents on your death
  • You will be able to afford long-term nursing or residential care if you need it
  • Changes in legislation or tax changes have affected your pension and, if so, how
  • You are at risk of incurring tax charges that can apply if your pension is over-funded

New pension freedoms

New pension regulations, which came into force in April 2015, now give you far greater flexibility over what you can do with your pension pot. This includes being able to access your entire pension pot and choosing how to take your income during your retirement.

One key issue of the new pension freedoms is that your pension needs to be set up in the right way to avoid the prospect of your family eventually paying 40 per cent inheritance Tax on any money they inherit from your pension. Many older pension contracts are not set up to meet the new rules and a review of your pensions is crucial to avoid this problem.

Flexi access drawdown allows you to:

  • Take your tax-free lump sum
  • Set up income drawdown to receive regular income  and /or
  • Take your pension as one lump sum or as a series of lump sums

However, taking income from your pension can be complex so it is important to seek expert advice.

When it comes to planning for your retirement, it helps to have someone on your side who can guide you and ensure you have an effective plan in place. Whether your retirement is a long way in the future or just around the corner, let us provide you with expert impartial advice that is tailored to suit your particular needs.

Meet the team

Steve Horton
Steve Horton
Financial Services Partner
Graham Puddy
Graham Puddy
Chartered Financial Planner
Rob Vanstone
Rob Vanstone
Independent Financial Adviser