Pensions

The value of pensions and the income they produce can fall as well as rise. You may get back less than you invested


Retirement planning is crucial for all of our clients. In order for clients to retire comfortably and maintain their standard of living, it is essential that their options are regularly analysed and reviewed.

Our retirement planning service helps our clients understand their projected income in retirement in addition to offering advice on how to overcome any potential shortfalls. Our service is tailored to fit your individual needs which include state pension entitlement and any existing or preserved pensions. Many of our clients also receive advice from us when they are about to enter into retirement with complex advice around how best to structure their income in retirement with such products as pension drawdown and annuities.

The announcement made by the UK government in 2014 to provide pension plan holders more freedom and access to their pension funds once they have reached 55 creates an exciting opportunity for those that qualify. It also however require meticulous and sensible planning to ensure you avoid the potential pitfalls of crystallising your pension scheme including the potential negative tax position you could be creating. If you are considering this we would recommend seeking advice from one of our qualified and experienced advisers.

  • State Pension
    With legislation continually changing on how, what and when you will receive a state pension (if you will at all). Financial Associates can help you understand your entitlement and expectations with reference your state pension.
  • Existing schemes
    Within any successful financial planning, a full assessment of your existing provision should be undertaken and this falls within our research and analysis stage of our client journey. Once we have completed the relevant investigations we will be able to advise you on whether the existing scheme, provider and fund is suitable to your needs and how, if at all, you can benefit from further advice on such schemes. Our pension review service explained further here.
  • Making further pension contributions
    Financial Associates will be able to provide you with a full analysis of your existing provision and discuss with you how it meets your goals and aspirations for your retirement, providing you with guidance on whether a shortfall in your planning exists. On establishing a shortfall we will help you make the right decisions on how to fund for the shortfall in the most affordable, cost effective and tax efficient way.
  • At retirement
    As already stated above, many choices are available to you with your pension at retirement, from potentially being able to crystallise your whole investment, to having the ability to drawdown money from your fund but not draw an income until later or just begin to enjoy income from your pension pot in the form of an annuity. Our experienced advisers are on hand to review and discuss with you all the options available to you and ensure you achieve the best for your circumstances from your retirement fund.

 

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The value of pension and investments can fall as well as rise. You may get back less than you invested.

Your home may be repossessed if you do not keep up repayments on your mortgage.

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