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 can call upon the services of a specialist pensions adviser if your particular circumstances require. Click here for a free initial consultation or contact one of our financial advisers, Richard Ludlow on (01780) 764145 or Tim Barker on (01205) 351114.

Types of Pension

There are many different types of pension. These include the following:

1. Basic State Pension provided by the government.


2. SERP’s (State Earnings Related Pension Scheme).


3. S2P (State Second Pension)


4. Stakeholder Pension


5. Personal Pension


6. Self Invested Personal Pension (SIPP)


7. Occupational money purchase pension scheme.


8. 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:

1. Access to some of the capital when you need it.


2. Fixed or flexible income depending upon your attitude to risk.


3. 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.

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