Retirement planning is full of acronyms, rules and options that can be quite daunting – and the changes in April 2015 only add to all three of those.
Simply put, retirement planning is about generating the income for your retirement. This may be met by pensions, an existing business, downsizing your home and other investments. Ideally we’ll have plenty of time to prepare, but it’s never too late to make beneficial changes.
We can advise you on the whole process, from person pension plans and SIPPs to the investment of contributions and what they can be invested in and, finally, the choices on retirement for you and your dependents.
Options at retirement
There are a variety of ways to take an income from your pension and we’ll guide you through the different options for deferral, annuities and income drawdown. The best answers will depend on any other income you may have, your age, health and if you have any dependents.
It may seem rather complicated, but with the correct advice it can be possible to tailor your pension far more effectively for yourself and those you care for.
This is certainly an area where an effective planner can make a real difference so please contact us for more information about all the options available to you.