PENSIONS AND RETIREMENT
You can save as much as you want into a private pension, depending on how much you can afford. You will get tax relief on the amount you put in up to the annual allowance. However, tax relief may be limited for high earners.
The days of the Statutory Government Pension providing a comfortable retirement until death are long gone. There are many aspects of pension planning to consider, so we can advise a suitable arrangement for you.
You may have a personal or private pension, a company pension, or a stakeholder pension… When you near retirement age, you will probably hear from your pension provider saying it’s time to spend your pension fund and purchase an annuity, to pay guaranteed income for life.
SIPP – A Self Invested Pension
Want to use your pension to invest in your investment? With SIPP you have the chance to control your pension fund and even create a SIPP within a trust. You just need to ensure that you fit the criteria and you know what risks and rewards are involved. We can help.
Pension transfers can be complicated and without professional advice, costly mistakes can be made. The suitability of a transfer will very much depend upon your individual circumstances and objectives, and we are here to help make the right decision for you.
Stakeholder pensions are a type of personal pension that work in much the same way as other pensions that you can buy – you pay money into your pension during your working life to build your pension fund.
This is the type of pension that allows you to withdraw income. It allows you to withdraw income directly from your pension fund while the rest of your fund remains invested. Rules on when and how much income you can drawdown are set by government.
Even if retirement seems far in the future, it’s never too early to start gathering pension information, or to start investing in a retirement pension. Personal pensions (also known as private pensions) provide you with a regular income in your retirement.