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Pension Advice and Retirement

Get The Advice You Need To Secure Your Retirement

Retirement is an important step in everyone’s life. Even if you are a long way off retirement, it is vital to start saving. The earlier you review your retirement plans, the better it will be. 

Good advice can help ensure that your finances are secure and well-managed. Making sure you don’t run out of money when you retire.

Having a retirement plan in place will give you peace of mind. Ensuring that you have addressed your future retirement income needs. 

Seeking advice will increase the chances of a comfortable retirement.

What is a pension?

Advice is essential if you are planning for retirement. A pension is an income source for retirees. It gives you financial stability and allows you to stop working at some point.

You can get a pension from your employer or by saving alone. You make regular payments over some time, which will add up to a large sum.

This money will provide regular income when you retire. Planning for retirement early gives people an advantage. Compound interest and regular payments can help accumulate sufficient funds. This gives people enough time to reach their desired goals after retirement.

The Basic state pension is not enough.

Many people rely on the state pension as a source of income. People are living longer the state pension age is increasing.

Governments, over time, have addressed the issues of saving for retirement.

With the cost of living increases, it is wise to review your income needs in retirement. 

Speaking to a financial adviser can help you. They offer impartial advice and guidance on your retirement. Getting plans in place early can help you have the retirement you want. Effective planning can help you address the issues and concerns you might have. 

The picture below shows the current level of the full basic state pension. Most people would struggle to live on this amount each week.

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Pension options at retirement

The different types of schemes.

There are several types of UK pensions available. Each has its own distinctive features. If you are employed, you might belong to several schemes.

One scheme is a defined benefit or final salary scheme. This type of plan is usually provided by large employers.  This arrangement provides a fixed amount of money upon retirement. The income depends on earnings over the years.

Another type of arrangement is a defined contribution pension scheme. An investment account, such as a personal pension, is standard. Payments can be made to the plan. These can be either monthly or as a lump sum. 

Pension savings such as Workplace, Stakeholder or Personal plans grow tax efficiency. They also qualify for relief.

High earners need to take into account pension tax charges. The amount you can pay will reduce depending on your earnings.

Defined contribution plans are flexible when you want to take benefits. For many people, Pension Flexi Income Drawdown is a popular choice. Making the right choices for you is crucial.

We help you make the important decisions.

Professional financial advice can help when planning for retirement.

Financial advisers can help you decide on the best retirement strategy. This could include consolidating your existing pensions or the funds you hold. We will consider tax implications, investment performance, and risk assessment.

This will help you to make the right decisions about your retirement plan.

Nearing retirement and pension options

Making informed decisions about your pension options is critical. Especially the closer you get to retirement.

You have various choices, including a drawdown, a pension annuity or a combination of both.

We can help you build a retirement plan tailored to your needs. Giving you confidence and security about your financial future.

We invest time to understand your situation, objectives, and ambitions. This allows us to tailor the advice to your needs.

With our support creating a secure financial future is easy.

Should I take a Lump sum?

Approaching retirement and deciding what to do with your pension pot can seem daunting.

One option is to take a tax-free lump sum. This allows retirees to access a portion of their savings.

It can be either upfront or spread over time. You can use it as income or for essential expenses. For example, paying off debt or home improvements.

Before making this decision, several factors should be considered. Taking out too much money can leave you short on funds in later life. There could be significant tax implications.  

Withdrawing large amounts can affect your tax position. The impact on income tax could be drastic. It could have an impact on inheritance tax. The choices will be different for each person. It will depend on your situation. Therefore, it is essential to speak to a financial advisor.

death benefits

Death benefits are an essential aspect of retirement planning. The amount paid out will depend on the type of scheme. For final salary schemes, factors such as age and length of membership will affect the benefits.

Navigating these rules can be complex and confusing for many people. This is especially the case if your benefits are over the lifetime allowance.

We can help you understand the death benefit rules.

We can help you to make informed decisions about your financial planning. We are here to support you with advice and guidance. We can help you maximize your payout potential. We will be with you throughout this challenging process.

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Secure Your Retirement with Expert Advice.

As financial advisers, we understand retirement planning can be complex.

We are dedicated to providing you with the best advice possible.  

We keep up to date with changes and developments in pensions. This ensures our advice is up-to-date and relevant.

If you don’t need financial advice, the UK government offers the pension-wise service. It provides free impartial guidance for people over the age of fifty. This is guidance and not advice.

With years of experience, we have established ourselves as trusted advisors. Schedule a meeting with us. You will gain access to practical solutions. Our initial meetings are either by phone or online. If we can help you, then we can organise a face to face meeting.

These solutions will help secure your financial future in retirement. So why not take advantage of our expertise and book an appointment today?

Let us help you get started on the path towards a worry-free retirement! Our initial meeting is free of charge and without obligation. 

Help Guidance and Advice

Pension Wise

Pension Wise

Pension Wise is a government provided service for people aged 50 or older with a pension in the United Kingdom. It can assist individuals in understanding the kinds of pensions they have. How they can access their funds and the tax consequences of their various choices. However, it only offers pension guidance and not financial advice. You can arrange a pension wise appointment from their website.

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Do you have a Pension Question?

We are happy to help if you have questions about your pension and your situation. We are open normal working hours Monday to Friday, 9:00 am to 5 pm

Call us on 01454 321511

Alternatively, you can email us

retirement advice

Retirement Advice

Many of our clients are based in Bristol, Bath and South Gloucestershire. However, we also deal with clients throughout the South West and the UK. If you are retired, looking to take benefits, or want to find the best way to save for retirement, we can help you.

We can provide advice on all aspects of pensions. This can include Personal Pensions, Self Invested Personal Pension arrangements, Stakeholder, Group Pension schemes and pension annuity purchases.

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