At-retirement

How we can help you

We recognise that choosing the best way to access your Pension savings can be a very complex decision at a time when you should be looking forward to your retirement. Our advisers focus on finding out about your circumstances and aims for retirement so that any advice can be tailored to suit you. Any products recommended to you will be clearly explained, with minimal use of jargon and technical terms.

We only offer advice on an Independent basis, which means we can access a wide range of providers in the intermediary marketplace. This enables us to choose the best product for you and your circumstances, rather than the best product from a limited range of providers.

It is important to remember that a little bit of advice now could enhance your retirement income for the next 20 or more years. It could also ensure that your family is protected if you pass away.

Find out more

If you are would like to receive advice about the best way to access your pension benefits please call 01642 477758 or visit our Contact page to arrange a free initial consultation.

What is an annuity/drawdown?

Annuity

  • Annuities can come in many different forms, such as Conventional, Single Life, Joint Life, Enhanced Life, Impaired Life and Asset-Backed
  • Essentially, purchasing an Annuity means you give a lump sum from your Pension savings to an Annuity provider. This provider must then provide an income to you for the remainder of your life (and possibly beyond)
  • Although the basic premise of purchasing an Annuity is quite simple, the various different options available may mean that you could miss out by not conisdering all relevant factors
  • It is important to remember that the benefits available to your family will be heavily affected by the choices you make when purchasing an annuity
  • It is also important to remember that you are able to “shop around” to find the best Annuity rate available. We are Independent, which means we can look at every provider available in the intermediary marketplace to find you the best rate

Drawdown

  • There is now only one option available for Drawdown: Flexi-Access Drawdown
  • Essentially, Drawdown allows you to take an income from your Pension fund while the fund remains invested. This is usually done in the hope that the fund will continue to grow while you are drawing an income from it. Of course, this is subject to market movements and investment performance, and therefore it is in no way guaranteed
  • “Flexi-Access Drawdown” means you can withdraw any amount you wish from your pension fund. Naturally the more you take now, the less you will have available in the future.
  • Flexi Access Drawdown income is taxable as pension income.

The choice between an Annuity and Drawdown will depend on various factors and this is never a straightforward decision.