Like investments, pensions should be reviewed regularly to make sure your plans are still on track and your portfolio reflects your attitude to risk. As more cost-effective plans have come on to the market in recent years, you may also find there are now pensions with lower charges and more fund choices available, so you could build up a larger fund to retire on. With an annual review, you can make sure you get the best results possible – the results you deserve.
It’s surprising how many of our new clients have not had a pension review from their original Advisor for 3, 5 or even 10 years. But it’s no surprise that their pensions are under performing due to high charges and a lack of ongoing advice and fund switching.
With the massive changes planned to pension legislation during 2015, now is a great time to find out how you can benefit.
If you’re coming up to retirement, how to take your accumulated pension pot can seem confusing and even daunting. The pension reform of 2015 makes it imperative that you fully understand all the options before making a decision. There are just so many different types of annuities, some with a level income, some increasing, some with guarantees, some with an investment element – should you take the 25% tax free cash (PCLS)? Would the pension changes to drawdown make it a better option? We’ll help you make an informed choice.
It doesn’t matter which company you’ve saved your pension fund with, you can exercise your ‘open market option’ at retirement so you can shop around for the best annuity rates or drawdown provider. We can compare the market for you during our free 90 minute consultation.
And remember, as an Independent Financial Advisor we are acting on your behalf, and not tied to any insurer or provider.
If you’ve had any previous health issues or you smoke, an Impaired Life Annuity could give you a higher income – sometimes over 20% extra every month – for the rest of your life! Just ask us for more information.
Check out our case studies to see how we can help. Meanwhile, these links could give you a useful insight into how your existing funds are performing.