Retirement Planning & Pension Advice

By depositing a percentage of your wage into a pension scheme throughout your working life, you can secure a regular income for yourself when you retire. We can guide you from when you begin saving right through to retirement. We also help you to understand pension consolidation and best options for you.

We can advise you on:

Annuity purchasePensions and retirement planning
Auto enrolmentPensions review
Pension consolidationPensions transfer
Pension drawdownSIPPS
Pensions and divorceStakeholder

Pensions schemes explained

In simple terms, a pension scheme is a long-term savings plan, that allows you to save for retirement. When you reach an age where you no longer want to work, you can benefit from a regular income if you have put a proportion of your wage into a pension scheme throughout your working life. The earlier you start saving, the more money you will have to enjoy during retirement.

Pension schemes can be a very effective saving method as they have the advantage of more favourable tax treatment than other types of saving. There are generally two forms of pension schemes:

    • Schemes accessible through your employer
    • Private schemes you can set up yourself

These are not exclusive, so you can have both a scheme with your employer and a private scheme, as well as other saving options, such as ISAs.

If you are at the stage where you are able to access your pension, we can also advise on a few different options so you access your pension in the most beneficial way.

To ensure you can live the life you wish in retirement, careful financial planning is needed. Our specialists can guide your first steps into saving, right through to your decision to retire.

The value of your investment and any income from it may go down as well as up. You may not get back the original amount you invested.

Starting Out

It is essential that while you are working, your savings and pension are planned to perform effectively for your needs. We can help with answers to your questions about pensions, which may include:

  • How much should I be saving?
  • What are my tax relief entitlements?
  • Can I transfer previous pensions, and how do I do that?
  • Which complementary investments could I consider?

Retirement Preparation

When you are ready to think about retiring, we can also help with your questions:

  • At what point can I safely afford to retire?
  • What income can I expect to receive after retirement?
  • Can existing pensions be combined?

We can help you to prepare for all eventualities, including changes in the financial market, changes in your health and any other personal situations that may affect your pension.

Retirement Options

Through our discussions with you, you will have a thorough understanding of your retirement options, but we will be there at each stage to offer advice and guidance. Together, we can help you to make informed decisions with confidence.

You may have Final Salary pension benefits to consider, and we will spend time assessing the best options for you.

Book a consultation

Start your journey with GIFP by calling us on 01686 623975 to book your first consultation, free of charge.

Pension consolidation advice

Understanding pension consolidation

Understanding pension consolidation can be a complex process, so this is where our pensions specialists can help. Our trusted advisers can answer any questions you may have, such as:

  • What is pension consolidation?
  • Do I need to consolidate mine?

Over their working life, some people gather multiple pensions, including personal and previous company pensions. If they have not been paid into for some time, many believe they are ‘frozen’ and are sometimes disregarded. However, these pensions are preserved, and require consistent review, so consolidating these pension plans can often be the best step to take. You may benefit from improved charging structures and achieve significant long-term savings overall. However, transferring isn’t always the decision if it risks the loss of beneficial features and guarantees that are no longer available.

We provide tailored advice in every pension consolidation case, so it leads to the best long-term outcomes for each individual. Because we know you and your circumstances, through the relationship we have established, we can help with answers to your questions, which may inlcude:

  • Is pension consolidation the right move for me?
  • How do I transfer my pensions?
  • What are the pitfalls to be aware of?
  • Can you explain pension scheme charges?

We aim to simplify pension consolidation by offering straightforward advice. We provide you with a personal report, specifying the key benefits and features of your plans, with recommendations on how to proceed.

The value of your investment and any income from it may go down as well as up. You may not get back the original amount you invested.

Book a consultation

Start your journey with GIFP. Call us on 01686 623975 to book your first consultation, free of charge.

Calls from a BT line are charged at your calling plan’s standard network rate. Mobile and other providers’ charges may vary.

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