Pre-Retirement Planning
 Saving for retirement is something that most of us put off for as long as we can. But the reality is that the sooner you start paying into a pension the higher your income in retirement is likely to be. If you're working you're usually building up the right to a basic State Pension – and possibly an additional State pension – but these may not be enough to give you the standard of living you want. Some people are very fortunate in having a pension scheme provided by their employers, some of whom may even guarantee the benefits at retirement. However, even this may not be adequate if you have not been in the pension scheme for a long time.
You may have neglected your pension due to budget constraints, but you may also have older style pension contracts in poor performing funds that you have not reviewed. We offer a review of your existing pension arrangements, to check that these still offer good value. Many older pension schemes do actually come with some very high charges and you may find that it may be in your best interests to transfer an old pension to a new pension contract with lower charges.
Last Minute Pension Contrbutions
Post -Retirement Planning
Once you have built up your pension fund and you want to take the benefits it pays to shop around. You may be able to get a much higher pension income by taking the benefits through another provider other than your existing pension company.
The most common method of taking benefits is through the purchase of an annuity, where you give the insurance company the pension fund, and they provide you with an income for life.
There are other methods, of converting a pension fund into an income such as income drawdown and phased retirement.
Contact us now on 0870 190 4187 for your free consultation. |
