Pensions

Our professionally qualified Financial Advisers will explain how the different types of pensions work and what you should be considering in your financial planning to ensure you are saving enough for your retirement.

Your Future

Everyone needs money for their retirement to provide a decent standard of living. You may also need to support a partner or other family members. As life expectancy increases, your pension will need to last longer. This means you will need to plan and invest more wisely.

A personal pension is one way you might choose to save for your retirement.

You can receive tax relief on pension payments you make into a personal pension or stakeholder pension. Tax relief is applicable on personal contributions as well as employer contributions, making them a deductible expense.

Your Options

You can decide whether to make regular payments or lump sum contributions. Typically, you can draw benefits from pension funds from age 55 onwards, even if you do not retire. You can choose to withdraw all or part of your fund or simply take your tax-free cash, perhaps to pay off a mortgage. However, taking tax-free cash for purposes other than retirement should be considered carefully, especially in the context of your overall financial planning.

How We Can Help?

If you are concerned about your existing pension arrangements, we can provide a review that includes current schemes as well as those from former employers. Our protection services can help you understand how changes in the State pension could affect you.

We will advise you on how to make the best provision for your retirement by joining an employer pension scheme and exploring personal schemes, including Self Invested Personal Pension Schemes. We will also discuss the benefits of regular lump sum investments. Our team can assist you in choosing the right investment funds to match your risk profile and provide the most suitable plan and fund for your circumstances.

The value of investments and any income from them can fall as well as rise, and you may not get back the original amount invested.

HM Revenue and Customs practice and the law relating to taxation are complex and subject to individual circumstances and changes that cannot be foreseen.