Retirement Planning
The basics of a pension plan are very simple; you put money aside into a savings fund where it hopefully grows in value over time. When you come to retirement, you convert the fund into a regular income which will replace part, or all, of your earnings from employment. Pensions are long term investments which have special tax rules meaning you get tax relief on the money you contribute.
For most people a pension scheme is the obvious route to saving for retirement, and there are products to suit all circumstances, depending on whether you run your own business, want to top up your company scheme or you are in a job with no scheme available to you.
Financial advice on pensions is crucial both when planning a new pension as well as for monitoring and reviewing an existing pension. With many different types available from numerous Providers, our independent advisers can help in finding a solution matched perfectly to your needs. How your pension works will depend on the type you have; there are three main types.
- Occupational salary related pensions which are offered by some employers, also known as final salary schemes.
- Occupational defined contribution pensions – also known as money purchase schemes – which are also offered by some employers.
- Stakeholder and personal pensions – these are the types of pensions you start yourself or you may have one through your employment
Retirement planning isn’t rocket science but advice in the right areas will ensure you make the right decisions, avoid common pitfalls and end up with a bespoke solution tailored to your individual needs.
Whether you’re looking to start a new pension or if you’re considering retirement, our advisers are available to help.
Start it – the earlier the better but it’s never too late - act now!
Build it – let us improve and manage what you’ve got
Enjoy it! – after years of savings, you’ll want to make the most of your money – let’s discuss your options.
