Pensions & Retirement
Whether you’re a long way off from retiring, making important decisions about the next stage of your life, or indeed if you have already started to access your pension savings, you’ll know that the options and alternatives open to you can sometimes seem bewildering. We’re here to help you plan and navigate your way through the detail.
Over a lifetime of work, people often find that they have accumulated pension funds through a number of different employers, and what’s more is that these older arrangements may not have seen a review for some time. If you’re considering your own retirement plans, it makes sense to review what you currently have and to compare these with your expectations for your future. Unfortunately, many people either miss the opportunity to start planning or in fact start too late to make a significant difference.
In April 2015, the Government introduced wide ranging changes to pension legislation which gave retirees far more freedom and flexibility in how they can access their pension benefits. With careful financial planning, these new rules could make a significant difference to your own retirement, your beneficiaries and future generations.
Clear talking advice. Planning for your own horizons.
Without appropriate planning, many retirees could find themselves outliving their savings and becoming unable to enjoy a reasonable income in later life. Pension arrangements are just one option for providing income in retirement, with alternative investment options allowing further choice. Your own individual situation, when taking into account your exposure to various taxes such as Income Tax, Capital Gains Tax and Inheritance Tax, may well necessitate expert pension advice to ensure that you’re making the right decisions with the choices open to you.
At Cherry May, we firstly look to understand your plans for the future, your dreams and aspirations. We can provide a full review of your existing pension arrangements taking into account your overall financial circumstances and we will recommend the most appropriate next steps designed specifically for you.
A pension is a long term investment. The fund value may fluctuate and can go down. Your eventual income may depend upon the size of the fund at retirement, future interest rates and tax legislation.
Find out more… Call us on 01823 475222 or email us today.
Tax treatment is based on individual circumstances and may be subject to change in the future.
The Financial Conduct Authority does not regulate tax planning.
If you’re an employer and you need help with setting up your company pension scheme, please visit our corporate pensions page.
I was speaking at a business event recently and I asked the group this simple question: Do you know when your State Pension age is?
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