Retirement Choices
Recent years have seen the abolition of compulsory annuity purchase and far greater freedom extended to pensioners in choosing how to take their pension benefits. The changes to pension legislation announced in the Budget of March 2014 herald an unprecedented era of choice and flexibility for those drawing their retirement benefits. However, the broad range of choices can lead to confusion and nobody wants to make an error when their long term security is at stake.
The changes have seen a great reduction in the number of annuities sold and the emergence of a new breed of retirement solutions to accommodate modern employment and retirement trends. Changing work patterns will mean that many of our clients have periods of simultaneously drawing money from their pension whilst still working. For many, flexibility of income will be key in the early years of retirement whilst in later retirement simplicity and security will be welcome.
Previously, retirement planning was often a single decision as once a person ceased work an annuity was selected, a guaranteed fixed income established and there was no further change or choice available. The new regime allows continued flexibility but decisions relating to investment management and the level of benefits will need to be taken on an ongoing basis. These choices will need to take heed of changing personal circumstances, tax position, the needs of dependants and investment conditions.
Our expert, independent advice is intended to assist clients in managing their retirement to maximise their wealth and secure their future needs by offering continuing assistance with the decisions that will need to be taken.
All retirement planning and investment advice within our practice is provided by Chartered Financial Planners. We put great stead on establishing an ongoing personal relationship with our clients to allow us to understand their retirement needs and positon them to best take advantage of the new flexibility.
The changes have seen a great reduction in the number of annuities sold and the emergence of a new breed of retirement solutions to accommodate modern employment and retirement trends. Changing work patterns will mean that many of our clients have periods of simultaneously drawing money from their pension whilst still working. For many, flexibility of income will be key in the early years of retirement whilst in later retirement simplicity and security will be welcome.
Previously, retirement planning was often a single decision as once a person ceased work an annuity was selected, a guaranteed fixed income established and there was no further change or choice available. The new regime allows continued flexibility but decisions relating to investment management and the level of benefits will need to be taken on an ongoing basis. These choices will need to take heed of changing personal circumstances, tax position, the needs of dependants and investment conditions.
Our expert, independent advice is intended to assist clients in managing their retirement to maximise their wealth and secure their future needs by offering continuing assistance with the decisions that will need to be taken.
All retirement planning and investment advice within our practice is provided by Chartered Financial Planners. We put great stead on establishing an ongoing personal relationship with our clients to allow us to understand their retirement needs and positon them to best take advantage of the new flexibility.