PENSIONS ADVISER

Pensions Adviser

Retirement can be described as the longest self funding holiday we are ever likely to have and Personal Pensions represent a popular and attractive way of saving for your retirement.

Stakeholder pensions are similar to personal pensions but have their charges capped at 1.5% for the first 10 years reducing to 1% thereafter. Whilst Stakeholders are generally considered a little cheaper than Personal Pensions, investment choices may be restricted.

A personal pension is an arrangement made in your name over which you have personal control. You can alter your contributions, suspend them, or stop them completely.

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Personal Pension Pot

Personal Pensions usually offer a range of investment mediums to suit your attitude to investment risk, and you can change your investment at any time. Some providers of personal pension plans now allow you to invest in other company’s investment products and services, such:

• Specialist Investment services
• Guaranteed Investment Bonds
• Structured Investment Products
• Stockbroker investments

The investment opportunities are endless and in your control.

All monies invested into your fund grow free of capital gains tax, and the contributions you make are enhanced by income tax relief at source. For example if you invest £80, the government adds on tax relief (currently 20%) to enhance your contribution to £100!

If you are a higher rate taxpayer you can claim additional relief through your pay coding. Special rules apply though to those with high income in excess of £150000 p.a. Please contact us for further details.

When you do decide to retire you need to consider all sources of income and the income options available to you, so a pre-retirement is very important.

You will have a range of options to take when you decide to take benefits – an annuity, flexible drawdown for income, defer income – the options are endless.

You will be eligible to take 25% of your accumulated fund tax-free when you retire or from age 55.

Contact me on 01752 666165 to discuss your retirement planning and requirements.

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Independent Financial Advice

There’s an important difference between independent and restricted financial advisers. If an adviser says they are independent, their advice must be: based on a comprehensive analysis of the market unbiased, with financial services with no influence from product providers Platforms and model portfolios. Restricted advisers might either be restricted in the type of products they offer, the number of providers they choose from, or both.

Unbiased Advice Tailored To You

Pease feel free to contact us as an Independent Financial Adviser for professional, financial advice regarding, private pensions and retirement related financial advice. We can offer holistic financial planning, tailored to your financial needs, in an unbiased fashion, whereas a restricted adviser might not.

Alternatives to a financial adviser are The Money Advice Service, Citizens Advice Bureau and Pension Wise (for the over-50s) provide free and impartial financial guidance.

In contrast, advice from an IFA is a service that will recommend a specific product based upon your personal situation. Financial planning should always be met on a personal, individual level, to provide the very best options for every client.