Retirement Planning

Saving for your future is extremely important; many people think that retirement will take care of itself. This is far from the truth; it takes careful planning to get it right.

Once you have retired and are no longer receiving a regular income it could be difficult to make ends meet. There are many ways to save for your retirement; the most popular way is a pension.

They come in many variations, but usually a pension is a scheme that you and in many cases your employer pay into. When you retire you will have access to a regular income for the rest of your life.

Pensions

Pensions

Company pension schemes where both you and your employer would normally contribute.

Personal Pensions and Stakeholder Pension schemes where you and/or your employer may contribute.

SIPPs (Self Invested Personal Pensions) these are a little more complex, but very similar to Personal Pension plans, however, you have greater investment flexibility and choice.

ISAs (Individual Savings Accounts) are tax efficient savings vehicles that give greater flexibility, they are not considered to be a conventional pension plan, however, they are becoming very popular for people who want control of their investment funds at retirement.

Annuities

Annuities

Annuities are the most popular way that people take their pension benefits; however, many people are unaware that they can shop around for the best deal, very much like buying any product or service. We have sophisticated research tools to analyse the market and to help find the very best annuity for you.

You may also qualify for enhanced annuity rates should you have pre-existing medical conditions and/or if you smoke.

There are a plethora of ways to take your retirement benefits such as income drawdown plans and With Profits annuities to name a few; however, all plans are subject to your attitude to risk.

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