Retirement Planning


When it comes to providing for our retirement too many people are doing too little too late. Putting away even a small amount early on can make a big difference to the lifestyle that you can enjoy once you do retire.

As we are living longer it is unlikely that that the state is going to provide for us in retirement and the golden rule for most is not to rely on the State Pension alone.

Having sufficient income in your retirement should be a major factor in your financial planning as being without it could have a big impact on what you do in retirement and being able to meet your retirement goals and objectives.

There are clear tax advantages in pension planning which everyone should take advantage of even for businesses. Many clients have many pension pots scattered around the place from various employments or old personal pensions and it is recommended that these are reviewed to create a retirement plan to meet your retirement objectives.

Forms of pension planning include:

  • Personal Pensions
  • Occupational Pensions
  • Stakeholder Pensions
  • Platform Pensions
  • Contracted Out Pensions
  • Self Invest Personal Pensions

Occupational Pension Schemes are not regulated by the Financial Conduct Authority.


From the 6th April 2015 the government has allowed any one over the age of 55 to take their personal pension pots as cash if they wish giving them full access to their pension fund. This effectively allows savers the complete freedom about how they generate an income in retirement.

How does it work?

The pension reform means you can take some or all of your pension pot as cash and you will no longer be required to commit to purchasing an annuity or going into Drawdown. Although 25% of any pension fund can be taken tax free, by taking larger lump sums from their pension could come with a hefty tax bill therefore it is always advisable to seek financial advice on the best course of action.

A pension is a long term investment. Once money is paid into a pension it cannot usually be withdrawn until age 55.

The value of investments can go down as well as up and you may get back less than the amount invested. Past performance is not a guide to future performance.