Retirement Planning

Planning for retirement is vital, the choices you make now will determine the lifestyle you will have in the future. This is why we suggest you book a free appointment to establish and compare all the options that are available to you.  

Everyone has different opinions and ideas as well as different attitudes to risk and reward. This is why we need to establish a rapport and understanding of each individuals expectations. We will then tailor our advice specifically to your needs and desires.

Its all too common today for people to plan for the future based solely on the receipt of State Pension. Before you retire, you should establish what your goals, objectives and needs for the future will be. In 2015 planning for retirement changed dramatically and became more flexible. 

There are 3 stages to planning for retirement:

1. Accumulation – saving and building in the early years.

2. Capital Preservation – ensuring what you have built is not placed at undue risk.

3. Drawdown – taking an income and or capital to meet your needs and aspirations in retirement.

Each individual has a their own appetite for risk therefore there are many options to invest. However, not many people are aware of the tax relief benefits which are bespoke to a pension wrapper. For example in Scotland if you are a basic, starter rate or non tax payer if you contribute £8,000 taking into account tax relief it is grossed up to £10,000. There are not many other investments that will achieve this level of immediate return. For individuals on intermediate, higher and additional rate tax, savings are even greater. 

Thereafter any growth within your selected investment will be in a tax efficient environment. 

Finally, with the correct advice and guidance it is possible to withdraw income and capital from your pension without paying tax.

To explore which options best suit your current situation and projected needs please get in touch and we will be happy to help.