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Pension Planning

The array of choices and complexity when considering the best route for pension planning makes this subject a very difficult one to tackle on your own and one which requires considerable expertise and advice from a specialist independent adviser.

If you are considering the tax benefits of trying to save against private earnings that are not pensionable or considering the best ways to top up your existing provision to suit your income requirements in old age, a comprehensive review of your finances is required to put a sensible and achievable strategy into place.

Although pensions are tax efficient, there may be merit in considering a broad spread of investments to give you the flexibility that you need and for this reason a comprehensive financial review is required as part of this process.

There is no doubt that with tax relief at your highest rate of income tax being available for pension contributions, this subject cannot and should not be ignored. With ever increasing life expectancy, income in retirement now has to last almost as long as your working life.

As well as helping you to plan the most efficient route to adopt for saving until retirement, we also offer a comprehensive range of services to assist in your planning after retirement and the best way to make use of the benefits that you have accrued throughout your working life.

These arrangements may include considering phased and pension fund withdrawal (drawdown) plans where you are not obliged to purchase an annuity when you retire. You can therefore consider the benefits of keeping your funds invested to provide the best possible returns until you do have to buy an annuity.

A proportion of the funds that you build up for retirement can also be taken as tax free cash and planning for the use of these proceeds to generate further income or capital growth if desired is a vital part of the overall process.

As there is a considerable difference between the performance of pension funds historically, it is important to receive well thought out independent advice as to who the providers of the future are going to be when it comes to making the best use of your pension savings.

Retirement Planning also encompasses the ways in which you can plan to help mitigate inheritance tax for your family with the use of suitable trusts for your pension assets.

You may also like to consider the option of utilising a self invested pension arrangement where stocks and shares or commercial property can be purchased through your fund if you are an active investor with a willingness to take higher risks for the potential rewards in the future.

Our advice will also take account of current legislation, eg stakeholder, in your planning process and up to the minute knowledge of the market will assist you in selecting the best route to choose.