Pensions

Most people recognise that it is wise to plan for their retirement. This is especially true for those who are hoping to retire before the usual State Retirement ages. 

Putting aside a regular amount of money during your working life is probably the best method to ensure that you will have sufficient income during your retirement. Investing into a Pension plan has historically been the most popular method of making these regular commitments. The tax advantages offered by the UK Government provide the opportunity for your Pension Fund to grow with virtually no tax. You are also currently allowed to draw a significant amount of your pension fund as a lump sum with no tax payable. 

From 6 April 2006 Pensions Tax Simplification will be introduced bringing in a radical new tax regime which will sweep away the eight existing tax regimes and replace them with a single universal regime for tax-privileged pension savings making it easier for :  

• Individuals– through greater choice and flexibility in when and how they save for their retirement.
• Pension Providers– through reduced administration costs and a reduction in the current burden caused by expensive administration checks
• Employers– through lower administration costs the freeing up of tax rules enabling them to design pension schemes that best fit their business needs.

There are various types of pension arrangements, whether you are employed, self-employed or taking time away from day to day working perhaps as a carer or to raise your children.  We can give advice on all types of pension arrangements to suit your particular needs which include:

• Pension planning
• Personal pensions for the employed
• Personal pensions for the self-employed
• Company schemes
·   Stakeholder pensions
• Group personal self-investment pension plans
• Directors / Executive pensions
• Small self-administered schemes

In addition we specialise in two further areas of pension planning – Self Invested Personal Pensions and Income Withdrawal – we have included more detailed information on these two areas on our website.  We believe that these two pensions will become even more popular after Pension Simplification next year as they offer many advantages and greater flexibility. 

We offer a free consultation, of up to half an hour in length, to consider your personal circumstances. Our consultation offer is made without any obligation upon you.