With life expectancies increasing and retirement ages being pushed back, you may be asking yourself how effective your retirement planning actually is. Do you genuinely know what standard of living you will be able to enjoy when you finally stop working? These are the most common questions asked by new clients:
- ‘Should I put all my pensions together?’
- ‘Why aren’t my pension plans growing and am I paying in enough?’
- ‘I’ve not heard from my pension adviser in years, can you help me?’
- ‘I’ve got a lot of money in my pension, should I have a SIPP?’
- ‘Should I buy an annuity or take income drawdown? What’s the difference?’
A very welcome surprise by the Chancellor in March this year means that Pensions have become more advanced in terms of their flexibility and the choices now available. It is an area of constant change and it’s now, never been more important to make preparations to secure an enjoyable retirement. There are many ways of saving for retirement and the taxation and investment choices can appear baffling. The new changes, fully implemented from April 2015 will mean Clients taking even greater care with their ‘at retirement’ decisions. We can help.
We’ve been able to explain to many clients why their pension scheme isn’t working or growing, the correct level to pay in, the pros and cons of consolidating several pensions. create wealth® has built a reputation on understanding the needs of individuals so that we can help you to make an informed decision about how best to plan, invest and ultimately take your pension benefits at retirement.