Saving For Retirement

Everyone needs a plan for retirement. Pensions always form a part of this, but it is important that as long as making sure you get the best pension, you also consider your other investments, including property, company and/or buy to lets.

The world of pensions is, sometimes, painfully complex. It is easy for even the most talented or experienced individuals to make mistakes. Pensions are one the most common reasons that people contact us.

What is the best pension?

When considering what the ‘best’ pension arrangement might be for you, there are lots of factors that need to be considered:

  • Do you want to purchase commercial property?
  • Do you want to leave your pension until you retire?
  • Are you employed or self-employed?
  • Are you running a company?
  • Are you a trustee of a defined benefit scheme?

Pensions legislation has built up over many years. The government tried to simplify it on pensions ‘A’ day in 2006, yet it remains one of the most complicated, and complained about, area in the country today.

What pensions are available?

There are 10-20 different style of contract that are widely available on the market, but there are more off-market solutions and within the pensions available on the marketplace there are hundreds of different plan providers and administrative services that you could use.

Our job is to help you work out what you want and take the hassle away from finding the best pension for you.

What are the limits?

Currently the annual allowance is £40,000 a year, however you get full tax relief on these contributions. Over time we fully expect this allowance to continue to decrease to the national average salary.

The lifetime allowance has fallen in the previous budget to £1M. This may sound like a lot but if you are an employee with a final salary scheme of £40,000 or more, you may be breaching this limit.

This means that employees with high levels of income and final salary schemes should get in touch today as there are things we can do to minimise the impact of this tax.

You can only take an income once you are 55 years old.

Keep it simple

We keep it simple. Our clients get a simple solution to their problem. We are here to remove the hassle and the stress out of your investments, all of this goes on behind the scenes. When your adviser comes to meet you, they will provide plain English answers and plain English solutions to help achieve your goals.