Reviewing your current retirement savings

Many people have savings built up in various Personal Pensions, including:

  • Group Personal Pensions (GPPs)
  • Self Invested Personal Pensions (SIPPs)
  • Executive Personal Pensions (EPPs).


We can review these savings for you to ensure you are invested in the most suitable funds and the most suitable product for your current circumstances.

Saving for your retirement

If you wish to start (or increase) your retirement savings then a Pension may be the right choice of tax wrapper for you. There are a number of benefits to making Pension contributions, such as:

  • Pension contributions attract Income Tax relief. This means if you are a Basic Rate (20%) taxpayer and you make an £800 contribution to a Pension, the taxman will make this up to £1,000 for you
  • Any gains made on your savings within the Pension are free from Capital Gains Tax and Income Tax
  • Depending on the provider, you can invest in quite a wide range of assets
  • You can generally withdraw up to 25% of the fund value as a tax-free lump sum
  • The amount held in a Pension is generally removed from your Estate for Inheritance Tax purposes

There are also some drawbacks to investing in a Pension, including:

  • Under current rules, after the 25% maximum lump sum, the remainder of the fund must be used to provide an income (which is then subject to Income Tax rules)
  • There may be a tax charge upon your death and your family may be restricted in terms of the way these benefits can be accessed
  • Pension benefits cannot usually be accessed until age 55, except in certain circumstances


Retirement planning can be a complex area and it is difficult to do correctly without receiving financial advice.

Even if we agree that a Pension is not the right tax wrapper for you, we can still discuss the many alternatives available.

Find out more

To book a free initial consultation with one of our advisers to review your existing retirement savings, please call 01642 477758 or visit our Contact page.