Pre – retirement

The government made radical changes in April 2006 ~(A-Day) to pension legislation. This has commonly become known as “Pensions Simplification”. Further legislation relating to changes to annual allowance, lifetime allowances carry forward and drawdown were introduced in 2011.

As legislation has developed since then and further changes have been introduced, the new legislation is anything but ‘simple’ and the need for impartial and coherent advice has become more and more apparent.

This area has become highly complex and specialised advice and guidance is definitely required.

With significant alterations proposed to State Pension Provision and the increase in the ageing population, taking control of your own retirement plan is becoming more and more the norm. The extremely attractive tax benefits associated with pension contributions should not be overlooked.

A review of existing arrangements will give you the peace of mind that you have invested in the most cost efficient pension plan with the appropriate investment choices available to fit with your personal attitude towards risk and reward.

A review will also provide a clear indication if existing plans and the level of funding will be sufficient to maintain your standard of living.

Advice can then be tailored to meet anticipated shortfalls in line with the budget available.

At/Post Retirement

In the past retirement income has been provided through the use of annuities, guaranteeing a set level of income throughout an individual’s retirement. There are however, a range of alternatives now available, such as capped and flexible drawdown.