Retirement Savings

Retirement Savings

· Stakeholder & Personal Pension Schemes
· Self Invested Personal Pension schemes (SIPPs)
· Small Self Administered Schemes (SSASs)
· Pension Transfers
· Pension benefit forecasting
· Planning and product purchase  

It is no good reaching retirement and finding out that you do not have sufficient capital to maintain your lifestyle. Planning early in life is critical for an enjoyable retirement. Pension planning is only a part of having sufficient retirement income; deposit capital, ISAs, personal investments, and business assets all play their part in retirement income provision.  Pension plans have very valuable tax benefits in terms of tax relief on contributions and tax-free capital growth but disadvantages as a result of loss of access to capital.

Do you know how much income you will have in retirement? What is it worth in today's money? Most people don't know, so their future can be very unsure. We help by:

• Establishing what level of retirement income you would like to receive in today's terms; taking into consideration whether you would like a capital sum as well.
• We work out how much capital in today's money you would need and how your current pension and investment capital fits into this.
• The next stage is to work out how much additional savings you need to achieve your target income, and whether this should be in the form of pension savings, personal savings, or a mixture of both.
• Are your existing plans working effectively, how are the funds performing and what are the charges?

A complete review of your current position will soon provide the information to produce a financial plan and this needs to be monitored on a regular basis going forward.