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Pensions, retirement and annuities

Is your future financially secure? Whether you have or haven’t started saving for your retirement, or you’re ready to retire, you should act now, because your future depends on it.

What stage are you at?   

  

Stage 1: I have not started saving for my retirement

So, you haven't started saving for your retirement.
 

Why start saving?

Retirement is supposed to be an enjoyable stage in your life, so why make it stressful? Simply put - the sooner you start saving for your retirement, the sooner you can relax in the knowledge that your future is financially secure.

You can no longer rely on the state to fund your retirement, so it's crucial that you have enough money to survive on when you stop working. Otherwise, what was all the hard work for? 

Did you know?

The full basic state pension is currently £97.65 a week for a single pensioner and £156.15 a week for a couple, while a woman who has a state pension based on her husband's contributions receives up to £57.05 per week.

Could you survive on this amount?
 

What are your options?

There are plenty of options to help you avoid living in poverty when you retire.

One of the most popular options is a pension, which is a long-term investment that benefits from special tax rules.

What are the different types of pension?
 

There are three main types of pension:

  • Occupational defined benefits (or 'salary related') schemes
  • Occupational defined contribution (or 'money purchase') schemes
  • Stakeholder and personal pensions

What should you do next?

As you can see, there's a lot to consider when it comes to planning your retirement, but it needn't be complicated or stressful - especially if you seek professional financial advice.

Doing nothing now could prove more stressful and very costly in the future.

Stage 2: I have already started saving for my retirement

So, you've already started saving.

That's great news, but just because you've started saving for your retirement, doesn't mean that you can just sit back and presume that you will get the most from your investment when you retire.

As your personal circumstances change - which is an inevitable part of life - so do your financial circumstances. This is why it's important to review your existing retirement plans on a regular basis, to ensure you're getting the most from your investment. 

Will you reap the most from your investment?

The first thing you should do is establish exactly what investments you have and the return they are generating. This will mean delving into your files to find policy documents and asking any (current and previous) pension providers for statements. It's most important that you have your policy information to hand, at the very least.

What next?

Once you have gathered this information, an Independent Financial Advisor will help you assess your current investments and provide impartial advice on the best options for you.

Stage 3: I am ready to retire

So, you're ready to retire.

You've worked hard and now you're ready to enjoy the rewards in your later life! So what now?

A Financial Advisor will help you understand what happens next and how to plan and organise your finances during your retirement.

Who can help?

We can put you in touch with your local FCA registered Independent Financial Advisor, who will provide you with genuine pension advice for your specific needs

Receive an initial, free, no obligation telephone consultation by looking up your local Independent Financial Advisor using our directory. Or we will put you in touch.  Simply call us on 0800 035 0078.

 

Call us on 0800 008 6037 or request a callback