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Pension Advice and Retirement

Get The Advice You Need To Secure Your Retirement

Retirement is an essential 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.

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.

A retirement plan will give you peace of mind, ensuring 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, giving 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. The state pension age is increasing as people live longer.

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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The different types of schemes.

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

One scheme is a defined benefit or final salary scheme. Large employers usually provide this type of plan. This arrangement offers a fixed amount of money upon retirement, and the income depends on earnings over the years.

Another type of arrangement is a defined contribution pension scheme. A standard investment account, such as a personal pension, is used. Payments can be made to the plan 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 pension tax charges into account. The amount you can pay will be reduced 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. Significantly, 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 in understanding your situation, objectives, and ambitions, which allows us to tailor our 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 paid upfront or spread over time. You can use it for income or essential expenses, such as paying off debt or making 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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The initial call enables us to find out more about you and how we might be able to help you. The meeting is provided at our expense, and you have no obligation.  Our Video outlines our services.

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 with pension changes and developments, ensuring our advice is up-to-date and relevant.

If you don’t need financial advice, the UK government offers a 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, 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 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.

Access to Pension Wise

Do you have a Pension Question?

We are happy to help if you have questions about your pension and your situation. We are open during regular working hours, Monday through Friday, 9:00 a.m. to 5 p.m.

Call us on 01454 321511

Alternatively, you can email us

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, including Personal Pensions, Self-Invested Personal Pension arrangements, Stakeholder pensions, Group Pension schemes, and pension annuity purchases.

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