Pensions and Retirement Planning

Retirement

A large part of everybody’s financial planning revolves around retirement, whether that is saving for retirement or taking benefits from your pensions once you reach retirement.

Most people of working age are now members of various different types of pension scheme, the main two types being Auto Enrolment Schemes (NEST or the Peoples Pension for example) or Public and Private Sector Final Salary Schemes (NHS or Local Government for example).

In addition to this, some people will also have other pensions from previous employments that will also contribute towards retirement.

Pension Review

As part of the service we offer, we would be able to review the different types of pensions that you have (but not final salary schemes as we do not advise in relation to these types of pension) with a view to deciding whether or not further contributions would be needed to reach the point that you would like to be at when you reach retirement.

This review would involve being realistic about what is achievable within your budget and how long you have until retirement.  The review would also take into account whether you have other needs within your financial situation that require attention.

With regards to any new or existing Personal Pensions you have, we would look at the funds that you are invested in and suggest changes if we feel that it is necessary.  These could be reviewed on a regular basis and altered to suit the changes to your attitude to risk and term to retirement as the years go by should you decide that you wish to use our ongoing services for reviews and maintenance of your plan.

Accessing Your Pension Funds

At retirement, we would help you make the right decisions about what to do with your pension funds and the best way to access your benefits.  There are numerous options for this including but not limited to Income Drawdown arrangements and Annuities and we would go through all of these with you prior to any decisions being made.