Pensions
Most people recognise the importance of having a pension in order to plan ahead
for a comfortable retirement. Pension legislation, however, is complex and there
are numerous different types of pension all suited to different people, their levels
of income and their personal circumstances. With something as important as a pension,
it is essential to get independent impartial advice.
That’s where we can help. Our financial advisers are authorised to give advice on
personal pensions including stakeholder and we also have a specialist pensions adviser
who can advise on occupational pensions. Please e-mail
financial.services@chattertons.com for a free initial consultation or contact
one of our financial advisers, Richard Ludlow, Partner, Solicitor and Independent
Financial Adviser on (01780) 764145 or Tim Barker, Independent Financial Adviser
on (01205) 351114.
Types of Pension
There are many different types of pension. These include the following:
- Basic State Pension provided by the government.
- SERP’s (State Earnings Related Pension Scheme).
- S2P (State Second Pension)
- Stakeholder Pension
- Personal Pension
- Self Invested Personal Pension (SIPP)
- Occupational money purchase pension scheme.
- Occupational final salary scheme.
Retirement Options
When you retire, one of your biggest assets is likely to be your pension fund. We
recommend that you seek advice at least a few months before you retire so that we
can review the options available. If you are under 75 years of age and have a sizeable
pension fund, there may be a number of options available to you. These include:
- Access to some of the capital when you need it.
- Fixed or flexible income depending upon your attitude to risk.
- Options to pass your fund to your beneficiaries if you die.
If you are thinking of buying a pension annuity, let us compare the deals currently
available on the open market. In some cases, these can be substantially more than
your current provider may be offering and you may be entitled to an enhanced annuity
if you have health problems.
Contact Details
Financial Services Team
Mortgages:
Your home may be repossessed if you do not keep up repayments on your mortgage.
Investments:
Investments and Pensions: Please remember that past performance is not necessarily
a guide to future returns. The value of units and the income from them may fall,
as well as rise. Investors may not get back the amount originally invested.
Equity Release:
Equity Release Mortgages: This is a lifetime mortgage. To understand the features
and risks, ask for a personalised illustration.
Regulated by the Solicitors Regulation Authority. Authorised and regulated by the
Financial Services Authority.