As you move towards retirement, there are a number of things to consider, including:
It is important to consider your likely income needs in retirement planning, and to then consider if you will receive income from elsewhere, e.g. state pension, in the future.
You will have options as to how you draw income from your individual pension plans, which are broadly as follows:
There are many variations of the above and many things to think about – not least tax – before a final decision is made.
It may be that a capital sum would be useful to for instance:
It would be useful to have up to date details of all your pension plans. It you’ve lost track of a pension, we may be able to help locate it, or the Government’s Pension Tracing Service may be able to help.
To discuss your individual circumstances and retirement planning in more detail, please feel free to contact us for an initial consultation, which can be by telephone or by a face-to-face meeting. There is no charge for an initial consultation.
The value of your investments may go down as well as up and you may not get back the full amount invested. Accessing pension benefits early may impact on levels of retirement income, your entitlement to certain means tested benefits and is not suitable for everyone. You should seek advice to understand your options at retirement. The tax rates applying are subject to the individual circumstances of the investor. The Financial Conduct Authority does not regulate taxation and trust advice.
Don’t just take our word for it, see what our clients have to say.
“I found him very approachable and patient with my many questions.” – Mrs C K, York – Sept 2019
“Thank you very much for your advice and support. All meetings were held on time with clear and concise explanations. It has been a pleasure to work with you. ” – Mr D A C, Buckinghamshire – Sept 2019
“Great care taken to ensure I understood everything, had the right plan and the best interest rate. Excellent service.” – Mrs J A H, Bedfordshire – Sept 2019
Take a look at some of the other services that we can offer you