Pensions and Retirement Planning
Once you reach the stage where you're considering your retirement income, Independent Financial Guidance, Planning and Advice from a Retirement & Later Life Advice Specialist becomes even more important. Many of the choices you make at this time could impact heavily on your lifestyle, not just now but, potentially, for many years to come, so you need to make sure you are working from an informed position.
Pensions can also be used as a very effective form of tax planning; reducing your immediate income tax liabilities, achieving tax free growth, providing a tax-free lump sum in the future with the potential to pass on their value to the next generation (and beyond) without any Inheritance Tax being payable.
It is essential that you review your pension situation regularly and, if it is not something you wish to undertake yourself, you should seek appropriate Independent Financial Guidance, Planning and Advice to ensure your retirement holdings are utilised in the most cost effective, tax efficient and suitable way, based on your present needs and objectives, as well as future plans and possibilities.
Options are varied and a Retirement & Later Life Advice Specialist, whilst being objective, can ensure any plans you have, remain suited to your circumstances or, if not, make tailored recommendations on the many options available when taking benefits from pension schemes, including:
* Pension Fund Withdrawal (Flexi-access Drawdown)*
* Phased Retirement *
* Pension Lump Sum Investment/Portfolio Planning *
* Capped Drawdown Review *
* Annuity Purchase *
* Impaired Life/Enhanced/Smoker Rate Annuities *
* Investment Linked Annuities *
Decisions that are made today can have an impact on your retirement income and lifestyle for years to come, so it's important to get the right advice. That's where a Retirement & Later Life Advice Specialist can help.
The value of investments and income from them may go down. You may not get back the original amount invested.
Tax treatment depends on the individual circumstances of each client and may be subject to change in future.
The Financial Conduct Authority do not regulate tax planning.