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Retirement Planning

When it comes to retirement planning, most people can say they've ticked the box and have at least one pension. However most people don't go further than that, we strongly believe everyone should know the answers to these questions about their pensions:

  • What is it worth?

  • What will it produce in retirement?

  • Is it a "good" pension for me?

  • Is it expensive in charges?

  • Does it suit my needs?

  • Am I paying enough in?


State pensions simply do not provide the support necessary for a decent retirement. We provide modern retirement products, but more importantly,

we will help you to answer the questions above. Our retirement advice follows our investment strategy and ethos, fund diversification and attaining the most reward for the risk taken are key to our service.

Key Areas of
Retirement Planning

Pension Consolidation

It's very common for people to accumulate several pensions throughout their working career. In our experience many people are totally unaware of what these pensions are worth, what the charges are and what they're invested in.  ​ A big part of our retirement planning is helping clients to consolidate these pensions into a single manageable pot, the key benefits are:​ One easy to manage pot - By bringing them together, you can reduce the administrative burden of managing multiple accounts, making it easier to stay on top of your retirement planning. More control over investments:  Making it easier to manage your investments and ensure that they are aligned with your retirement goals. Lower fees: You may be able to transfer to a  scheme with lower charges. You may also benefit from fee discounts by having larger total funds with a platform provider (something many of our clients enjoy) Retirement options: Not all pensions are able to take advantage of flexible retirement options, this can make it very difficult to access your money in retirement or leave you with options that don't suit your needs. Simplified retirement income: It's easier to plan your retirement income and manage your cash flow in retirement as it's coming from just a single source. ​

Taxation - Tax Relief & In Retirement

Tax Relief One of the most important benefits of saving into a pension is tax relief. When you make personal pension contributions you  normally receive tax relief at your marginal income tax rate; 20% for basic rate taxpayers, 40% for higher rate and additional rate taxpayers can receive huge 45% tax relief on their personal pension contributions (a £100 personal contribution only really costs £55). Basic rate tax relief is usually paid directly into your pension pot by HMRC, higher and additional tax relief can be claimed via a self-assessment or by contacting HMRC.​ ​ If you own and run a limited company you can also make contributions as an allowable business expense to your company. So rather than receiving personal tax relief you are saving on corporation and income tax that you would have paid to yourself. ​ Taxation in Retirement You are entitled to take 25% of your pension tax-free, in a lump sum or as a proportion of regular income, which means 75% is taxable at your marginal rate in the same way as earned income (like a salary). The tax implications of pension withdrawals will be based on your individual circumstances. ​ Annual Allowance & Lifetime Allowance There is a limit on the total amount you can save into a pension, called a Lifetime Allowance, going over this limit can result in a significant tax charge. The current Lifetime Allowance is £1,073,100 however you may have a different allowance depending on when you retired or crystallised your pension benefits. Similarly there is an annual allowance of £60,000 p.a. which is the maximum you can pay into your pensions without incurring a potential tax charge (including defined benefit benefits still being accrued), tax relievable contributions are limited to net relevant earnings. Thresholds, percentage rates and tax legislation may change in subsequent Finance Acts and their value depends on the individual circumstances of the investor.

A pension is a long-term investment not normally accessible until 55 (57 from April 2028). The fund value may fluctuate and can go down, which would have an impact on the level of pension benefits available

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