Where do we start ?
The secret of getting ahead is getting started - Mark Twain
Planning for retirement is by no means an easy task.
- You will be told that you need to start early - but can you afford it?
- How much will you need, when will you need it and how long for?
- Past performance is no indication of future returns. Which investments to choose?
- Good news! You have just been auto-enrolled. What does that mean?
We have added a link to an excellent but very detailed guide to retirement planning below. If you have any questions on the guide or would prefer us to take you through it in person please don't hesitate to contact us.
What do you do when you get there
The UK Government has recently simplified Pensions. It is likely that the simplifications will require careful planning.
In March 2014 Chancellor of the Exchequer, George Osborne announced a number of significant changes to the ways that you can access your Pension and how it will be taxed at death. These changes, which were confirmed in October 2014, will take effect from April 2015.
The new rules are designed to give savers greater control over their money going into retirement. Although the Chancellor also announced that access will be given to free and impartial advice it is likely that more complex circumstances will need additional focus.
- How to utilise Pension funds in the most tax and cost efficient manner
- Ensuring that there is enough to last for the rest of your life
- Making sure that any excess funds are positioned to enable the greatest benefit to your beneficiaries
Gaining the right information on these changes can make all the difference in making the most of your retirement. Contact us now for a more personalised discussion as to how the changes will impact you.
A pension is a long term investment. The fund value may fluctuate and can go down. Your eventual income may depend upon the size of the fund at retirement, future interest rates and tax legislation.
Information is based on our current understanding of taxation legislation and regulations. Any levels and bases of, and reliefs from, taxation are subject to change.