Retirement Planning

Retirement Planning is a complex area which means different things to different people. How you plan for retirement can be wide and varied, but one thing is for certain – it must be planned for well in advance. Generally, the sooner you start putting plans in place, the greater the level of flexibility you will have and the more likely you are to enjoy a comfortable and well-funded retirement.

From how much you invest during your working life to the manner in which you access your pension on retirement, there are many options and routes to follow, the choice of which could dramatically impact whether your pension will be sufficient to see you through the entirety of your later years.

Pension Investments

Pension planning is essential to securing a good standard of living during retirement. The vast majority of people benefit in later life from having a private pension provision in place; allowing them to maintain a lifestyle similar to that enjoyed whilst working, whilst perhaps also being able to provide for children and grandchildren.

Choosing the right vehicle in which to save will vary from person to person, depending on their individual circumstances. Taking advice from an expert financial adviser in this area can make all the difference. The types of pension scheme on which Gresham Wealth Management Ltd can advise upon are:

  • Stakeholder Pension
  • Personal Pension
  • Self Invested Personal Pension (SIPP)
  • Small Self Administered Scheme (SSAS)
  • Executive Pension Plans
  • Previous Employer Pension Schemes

Accessing your Pension

Since major legislative changes were brought into the area of pensions in 2015, there are now more options for retirees in terms of how they access their pension funds. Again, taking advice from an expert can be essential in making the most of the funds you have available.

Smart pension planning can even allow you to use your pension as a tax efficient vehicle for which to cascade wealth to the next generation, provided other sources from which to draw income have been put in place.

For more information on retirement planning, or to speak to us specifically about pension planning or moving/consolidating existing pensions, please get in touch with us.

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