Planning for tomorrow today
Retirement Planning is a complex area which means different things to different people. How you plan for retirement can be wide and varied, but it must be planned for well in advance. A couple of questions to ask yourself are: how do you want retirement to look? or how do you not want retirement to look?.
Whether you have an existing pension that you wish to review, or you’re looking to set up financial plans for retirement, the importance of a good retirement plan cannot be overstated. Whilst many in the country will receive a state pension, changes to the scheme have pushed back the age of retirement for men and women. For those hoping to retire earlier, a detailed and effective retirement plan is vital. While you may accrue a basic state pension throughout the course of your working life, in many cases this is far less than the amount most people would be comfortable living on.
In April of 2015, there was an increase in flexibility for access to pensions, so an effective plan could be the difference between early retirement or continuing to work over years to come. No one wants to work forever and in the current financial climate, it’s more important than ever to plan ahead and ensure you’ll enjoy a good standard of living in retirement.
There are a wide range of ways for individuals to save for retirement, from pensions, ISAs (individual savings accounts) to unit trusts or bonds to name but a few.
It’s easy to be bewildered by the array of choices on offer and we are committed to taking you through your choices in a down-to-earth, clear, transparent and straightforward way.
We offer proactive advice on effective planning for retirement.
Just some of the things we’ll consider when putting together your personalised pension and retirement plan include:
- The tax efficiency of pension/retirement planning both now and over the coming years
- An examination of how your pension can work with you, both pre and post-retirement
- How you may be affected by forthcoming changes to legislation
- A proactive review of your existing pension arrangements including state, ex-company and the benefits afforded by your personal pension & retirement plans.
If you’d like to learn more about the way retirement & pension planning works or simply want to know how we can help you secure the best post-retirement income, please get in touch today.
Old Royle’s approach of the current and future pension market will give you honest advice over your finances. We will work with you by assessing your personal needs and financial standing to establish the best type of retirement plan for you.
As well as helping you to choose your pension, we will proactively review the state of your current plan, taking into account state, ex-company and benefits of your current pension fund. Once the best solution is chosen for you, we will be on hand to offer regular reviews, ensuring that you’re constantly in control of your finance and up to date with the latest developments.
A pension is a long term investment and the fund value may fluctuate and go down aswell as up and you may get back less than you originally invest. Your eventual income may depend on the size of the fund at retirement, future interest rates, tax and legislation. The levels bases and reliefs from taxation are subject to the individual circumstances of the investor, and may be subject to future change. Past performance is not a guide to future performance and tax rules can change over time.