Financing life after work
Do you have a firm strategy in place to ensure that you maintain a comfortable lifestyle in retirement? Will you be able to retire in confidence? Will you be able to relax in the knowledge that you won’t run out of money?
In October 2014 the Government revealed the biggest changes the Pensions legislation for many years and we are here to help you make the most of them.
These rule changes, which take effect from April 2015, mean it is now more important than ever to plan your retirement as there are various options available to you when drawing your pension pot. Whether you are nearing retirement or still have many working years ahead of you, it is vital that you start planning for your retirement now and take professional advice.
Start planning now!
To talk to one of our expert retirement planners today and arrange a free, no-obligation initial meeting, please contact our office on:
0115 981 95 29
For a detailed breakdown on the full pension changes due to come into force, please download our free guide here.
Relaxing the pension rule book
Sarah Pennells, Personal finance expert, gives her views on the latest pension changes, and what they could mean for those drawing their pension after April 2015.
Retirement planning starts now
To fund a happy retirement, it’s never too early to start planning. Sarah Pennells gives her views on the different strategies you could adopt.
The main changes can be summarised as follows:
- Freedom over tax-free cash – Most people can take up to 25% of their pension up-front as a tax-free lump sum. Under the new rules you can still withdraw this 25% as a lump sum or have a portion of any withdrawals paid tax free on a staged basis.
- Flexible access to pensions from age 55 – Any pension investors over the age of 55 will now have total freedom on how to take an income from their pension. You can either take it all as a lump sum, take smaller lump sums as and when you like or take a regular income via an annuity or drawdown. You have full freedom to choose an option best suited to you.
- 55% pension death tax abolished – Currently, if you die before the age of 75 and pass on a pension which you have taken income or tax free cash from, this will be taxed at 55%. From April 2015 this tax will be abolished and the tax treatment of any pension you pass on to your loved ones will depend on your age.
- Retirement age to increase – The age at which you can draw your pension, currently 55, is set to increase to 57 from 2028 and then in line with state pension age thereafter.
How will you spend your pension pot?
For more information please click here to visit our Retirement Education Zone. Here you will find a series of short videos and guides which aim to help you understand all of the issues regarding your retirement journey.
Simply click on the image below to set yourself on the path to a clearer financial world.
Retirement Education Zone
Here you will find a series of short videos and guides which aim to help you understand all of the issues regarding your retirement journey.
It all starts with a conversation, so let’s talk…
We have always stressed the importance of retirement planning to our clients and now, following these rule changes, we cannot place enough importance on the need to seek advice in this area and ensure that you choose an impartial expert.
Whether you want to leave money to your family or make your last cheque bounce, we can fully assess your current pension arrangements and present you with a retirement strategy to meet your objectives and ensure your journey runs as smoothly as possible.
To talk to one of our expert retirement planners today and arrange a free, no-obligation initial meeting, please contact our office on 0115 981 95 29
or e-mail us at: firstname.lastname@example.org