Pension & Retirement Planning

Just think if you had £100,000 saved today and were not working. Where would you save this and what safe income could you achieve. £5,000? Maybe. Now think what multiple of £5,000 you would like as your retirement income. Let's say £40,000 would be okay. Then you need £400,000 saved. Without interest you would have to save over £800pcm to accumulate £400,000 in 40 years.

Then consider how many years you have until you retire. Look back the same number of years and see what happened to the value of your money. So you will need a lot more than £400,000 if you are still some way off your retirement date.

We help individuals and companies set up the most tax efficient plan and one that will work towards a meaningful retirement income.

And when it comes to retirement, we can help you find the most suitable pension annuity or flexi drawdown pension. Just because you have saved with one pension company, does not mean they will offer you the most income from your fund. 

Other types of pensions

The traditional pension savings plan is still a good option. If you’re a UK taxpayer, in the tax year 2017-18 the standard rule is that you’ll get tax relief on pension contributions of up to 100% of your earnings or a £40,000 annual allowance, whichever is lower.

Retirement income can be achieved in other ways. You could keep increasing the value your home and then downsize. You  could invest in other property such as a residential Buy to Let. You may like to invest in other allowable assets through a tax efficient Self Invested Pension Scheme. Commercial property investment. 

Some people collect art or  vintage items hoping their value will increase and then they can sell them in retirement to produce cash and income. That's why we prefer the phrase retirement planning.

We help you decide on what suits you the most. Please click on the Investment link in our menu for some of the main retirement ideas and plans. Or contact us by filling in the form below,