Depending on how old you are, retirement may be many decades away or just around the corner.  If you have still got years to go, it may seem difficult to imagine that one day the income that you are used to earning each month won’t be there anymore and if you have not put aside money for yourself, then you will need to live on whatever the state provides. 

For most people, living on the small amount provided by the state (£175 a week at the time of writing) will at best pay for the basics and for most could lead to real hardships.  Ask yourself how you would feel having to live on so little?  The great news is that retirement plans are one of the most tax efficient ways for you to save as you receive full personal tax relief on any contributions you make.  Put simply, saving into a pension is like buying pound coins for 80 pence (or 60 pence if you are a higher rate tax payer) so with a guaranteed return like that before the money is even invested, you get a fantastic leg up from the government. 

The benefits do not stop there though because the funds are allowed to grow without being taxed meaning that they will grow quicker than an equivalent tax investment and when you get to the end, you can take out a quarter of the money without any tax at all.

So, can you think of a better structure to save for your future than this? 

In terms of planning, retirement planning is like any other process - you need to begin with the end in mind.  Do you know already how much you will need and how long you are willing to work for?  If not, we will help you define that and then working backwards, taking account of anything you have already saved and how you would like your money invested, we will help you understand how much you will need to save. 

Clients who engage with us tell us how much peace of mind they have in knowing that they have a structured plan and, experience has shown us that clients are far more likely to hit their goals when working with an adviser. 

Many older clients come to us having already accumulated a number of different pensions over the years but find it difficult to understand where it is all leading.  This is a large part of our work and many people feel it is easier to have all of their plans consolidated into a single place where it is easy for them to focus and track the progress. 

It is also important to understand that many older pensions do not allow the modern features that so many people demand.  So it is always worth having a review to see what you have got and to see what is worth keeping and what is worth changing, this is where you need expert advice because some arrangements may contain valuable guarantees.