Pensions
- Have you planned for your retirement?
- Have you accumulated lots of separate pension funds?
- Do you know how to draw your retirement benefits when needed?
Anyone who thinks that the State Pension will be all they need to enjoy a comfortable retirement should think again!
The UK's over stretched Social Security system means that a financially comfortable retirement will only come to those who have planned well ahead for this important stage of their life. The Government has made it clear that the onus on pension provision lies very much with us all individually. Not everyone automatically qualifies for a full basic pension, a fact that many people fail to understand. To be eligible an individual needs to have paid the relevant class of National Insurance for a minimum number of years.
Over the years there have been a wide range of pension arrangements available for those who are employed, self employed or run their own business. We can offer guidance and advice on occupational pensions (for companies) and personal pensions (for companies and also individuals).
For new contributions, a simplified regime was introduced in April 2006 so we are able to provide advice on how to maximize your pension provision and guide you through the range of plans on offer now such as Stakeholder pensions, Personal pensions and Self Invested Personal pensions.
When you reach retirement we can discuss the choice of options available including annuity purchase and income drawdown. The implications when clients reach their chosen retirement age is wide ranging with implications for both the pensioner and his or her spouse. We are able to offer advice to help clients make informed decisions at this very important stage of life.
Whether your pension requirements are complicated or straightforward, we will be pleased to offer tailored advice to suit your needs and circumstances.
The value of your investment and income from it can go down as well as up and you may not get back the full amount invested.
