Whether you've left a trail pension paperwork in your wake or have contributed to the same one for 35 years, we are expert advisers and can help you decide what to do with your pension (or pensions!) next.
We are independent
As such we can review and advise on all types of pensions from all providers. When we give you advice, our only interest is yours. We're not tied to any provider so if we think you should switch providers then that's because we believe it's right for you.
The same rules don't apply to all
We can guide you through what seems to be a complicated set of rules to make it clear what your options are. Some pensions offer more flexibility than others. Some have added benefits you might not even be aware of.
We can advise on Pension Transfers
We hold the permission of the Financial Conduct Authority to advise on Pension Transfers, including Final Salary and Defined Benefit schemes. So we really are your local experts. This is not a service that all Financial Advisers can offer.
I'll worry about it all later
This is really important, don't put it off. Think of it in the same way as you have your income from work, your pension is a key part of your income in later life, you've earned it. You might even be pleasantly surprised and we promise to make it pain free.
These are the ones we hear most often, but with so many different types of pension scheme available no doubt you have plenty more questions of your own.
In its simplest form it is a government backed tax incentive to encourage you to save towards funding your retirement. The main benefits are: tax relief on your money as it goes into a pension, the opportunity to grow your money tax free within the pension and finally a percentage of the money, tax free, when you take it out of the pension.
The big catch of course is that you can't access the funds until you reach minimum pension age and there are rules about how much you can pay in and accrue in your lifetime. However it still remains one of the most attractive options for building a retirement pot.
The normal minimum pension age is currently 55. However some schemes have rules where you may be allowed to access the plan early. We can establish the facts for each type of pension you hold.
The real question is when should you access your pension. This is where we can really advise on the best financial decision making for your particular circumstances.
Generally speaking - yes. Almost all pensions allow for a lump sum withdrawal in some format. A portion of your pension will also be available tax free, usually this is equivalent to 25%. But again, there are some policies with different rules.
Working out whether you should take a lump sum, how much and when, are all questions we can help you with. We'll work with you to support your personal goals and also to reduce your tax liability.
After you've taken any tax free cash that may be available, income from your pension is subject to Income Tax at your marginal rate. This applies whether you take a regular income from your pension or draw it on an ad-hoc basis.
If your Personal Tax Allowance is still available, you may not pax tax on the income from your pension. PAYE and tax codes can cause complications but we have lots of experience in dealing with taxation and your pension.
This is a very personal decision and can only be made when several factors have been considered. The type of pension scheme and how you want to access it, how you feel about risk and swings in value, what your expectations are for returns and your own personal investment experience all play a role.
Our job is to gather all of the data for each factor, understand what it is you're trying to achieve and then guide you through the options available to you. Then we'll monitor this over time, accommodate any changes in market conditions or your circumstances and make any investment changes necessary to keep you on track.