Pensions and Retirement Planning
Once you reach the stage where you're considering your retirement income, expert financial advice becomes even more important. Many of the choices you make at this time will affect your lifestyle so you need to make sure they're right.
Pensions can be used as a very effective form of tax planning having useful tax privileged incentives; reducing your immediate tax liabilities, achieving tax free growth (where the investment profits are exempt from income tax and capital gains tax (CGT)), the ability to take part of proceed as a tax-free lump sum and potential to pass on their value to the next generation and nominees (and beyond) without any inheritance tax being payable.
It's essential that you review your pension situation regularly. We can advise you with taking steps to make it more certain that your pension pot will be able to achieve the income you want when you retire.
We can guide you through key life decisions and advise you on tax-efficiency, making certain that you're saving enough into your pension enabling you to enjoy the retirement you deserve.
Options are varied and can be tailored to your circumstances.
Advice on taking benefits from pension schemes
We are experienced in providing advice on the many options available when taking benefits from pension schemes, including:
- Pension Fund Withdrawal (Flexible Drawdown)
- Phased Retirement
- Pension Lump Sum Investment/Portfolio Planning
- Capped Drawdown Review
- Annuity Purchase
- Impaired Life/Enhanced/Smoker Rate Annuities
- Investment Linked Annuities
Decisions that are made today can have an impact on your retirement income and lifestyle, so it's important to get the right advice. That's where we can help.
The value of your investment or pension can fall as well as rise and you may not get back the original amount invested.
The levels, bases and reliefs from taxation are subject to the individual circumstances of the investor and may be subject to future change.
A pension is a long term investment, the fund value may fluctuate and can go down. Your eventual income may depend upon the size of the fund at retirement, future interest rates and tax leglisation.