Pensions; Individual & Corporate
This service is by referral.
Retirement is often an exciting and significant milestone in someone’s life. We’re here to make that step as easy and enjoyable as possible for you by understanding your financial situation and your goals, and then referring to how to invest your money to deliver the lifestyle you want.
Ensuring your income lasts your entire retirement
With life expectancy at age 65 increasing, being retired for 20 years or more means you need to plan for an income that funds retirement for this long.
2020 life expectancy projections1 show:
- Male life expectancy is projected to have increased to 84.9 years in 2022 – up 5.9 years from 1981. By 2047 this is projected to increase a further 2.2 years to 87.1
- Female life expectancy is projected to have increased to 87.2 years in 2022 – up 4.2 years from 1981. By 2047 this is projected to increase a further 2.1 years to 89.3
Although actuaries calculate the average life expectancy of men and women based upon a variety of factors, you must bear in mind that these are only averages. In fact, in most cases the nature of averages is such that you are around 50% likely to live longer than the average. This is important to bear in mind when planning for retirement.
To make your money last, you need to plan carefully and as early as possible. Your adviser will help you plan accordingly so you are well prepared to enjoy your retirement in the way you want to.
How retirement has changed
With the demise of final salary schemes, most people are taking more of a portfolio approach to retirement income. As well as traditional pension savings and the basic state pension, people are using ISAs and other investments, such as bonds, to supplement their incomes. Also, semi-retirement is becoming more common with people continuing to work part-time in retirement either through necessity or simply because they want to.
Don’t pay any more tax than you have to
Having spent a long time carefully building your retirement fund, the last thing you will want to do is give a big chunk of it to the taxman. This is another reason why you need to plan carefully how you use your retirement fund.
By carefully planning with your Adviser, you will work out how best to use your tax-free cash entitlement so you maximise your personal allowance. Understanding tax and its implications is an important part of retirement planning. Your adviser will provide you with everything you need to know so you can avoid paying too much tax unnecessarily.
Retirement planning has changed significantly in recent years. Most people now take a portfolio approach, combining sources like pensions, ISAs and investments to generate retirement income. Semi-retirement is also increasingly popular, with people continuing to work part-time. We’ll help you craft the right blend to suit your lifestyle aspirations.
Careful planning means maximising tax-efficient allowances and withdrawals to preserve more of your hard-earned money. Our expert understanding of pensions, tax and regulations means we can help you avoid unnecessary tax burdens. Entering retirement is an exciting life transition, with our specialist support and guidance, you can look forward to this next chapter with confidence, clarity and financial security. Contact us today to arrange a no-obligation consultation.
The value of pensions and the income they produce can fall as well as rise. You may get back less than you invested.
Tax treatment varies according to individual circumstances and is subject to change.
Tax planning is not regulated by the Financial Conduct Authority.
