Many people are reluctant to save for their retirement as it seems so far away. They end up putting away too little money away too late. However, starting to save early can make a big difference to the lifestyle you are able to enjoy when you retire. Relying on the state alone can make for some very impoverished later years. Modern pensions benefit from low charges and excellent tax breaks. You can even contribute to a pension when you don’t work.

Saving for Retirement

There are a number of tax efficient ways of providing for a comfortable retirement, and the best choice for you will depend on your tax status, age, the options offered by your employer, and the amount that you can afford. We are willing to conduct an initial review your pension arrangements free of charge.

Taking Retirement Benefits

There are now more options for taking retirement benefits than ever before.  Most people still purchase an annuity, which means that you have a known and guaranteed income throughout the rest of your life. Even though this is the most straightforward option it is still important to seek advice to ensure you found the company offering the best rates in the current market place.

For those who wish to retire gradually, there is now the option to enter into an income drawdown contract or, with larger funds, to take out a phased retirement plan. Both these options provide a flexible income and can be arranged tax efficiently. It is important to seek professional advice to ensure your pension income is tailored to your individual circumstances.