Are you going to get the best outcome from the pension funds you have worked so hard to build up or will a lack of knowledge or guidance mean that you are missing out on some very valuable planning opportunities?
With people no longer choosing to retire at a single point of time the pension freedoms introduced in 2015 have proved to be a real godsend.
Pre-2015 there was little flexibility, with many people having little alternative but to take their entire tax-free cash entitlement in one go and to purchase an annuity with the balance. Post-2015 more than £28bn has been flexibly withdrawn from pension funds enabling people to plan their retirement on their own terms.
And yet few people know just how to make maximum use of the flexibility available to them. This could be a simple as taking the tax-free cash sum in instalments, rather than in one lump sum, or as complicated as maximising income without exceeding the lifetime allowance with the severe tax penalty that involves.
One thing is for sure. Many pension plans taken out pre-2015 are just not designed to deal with the new flexibility and transferring them into a modern up to date, low cost, flexible plan could be a very good starting point.
Don’t leave your planning to just before you are due to start your full or partial retirement. 3 years before is a good time to start to learn about what is possible, how that will help you have the lifestyle you are looking for, and why the pension investment strategies in retirement need to be very different from when you are building up funds.
I am not a regulated financial adviser and cannot give personal advice but I can provide guidance, education, information and support which will help you get the best possible value from your retirement funds without the risk of being sold yet another product.
Who better to take guidance from than someone who has been an acknowledged pensions expert for more than 30 years and who now has practical experience of flexibly accessing his own pension fund?
Don’t wait until the last minute. Send me, Richard, a text or give me a ring on 07770 575122 and start your journey towards planning your retirement on your terms.
This document and our on going services are not personal advice. We'll give you all the help and guidance you need to make your investment and retirement decisions, but we can't advise you. If you're not sure whether you need regulated financial advice we can put you in touch with a suitably qualified and experienced regulated adviser. Because we are not regulated by the Financial Conduct Authority you will not have access to the Financial Ombudsman Service in respect of any complaints. If you use one of the "no advice" on line services to handle investment transactions they will be Regulated and you will have access to the Ombudsman and The Financial Compensation Scheme in respect of their services. The value of investments/pension plans can fall or rise depending on market performance. The Retirement Team and The Investment and Retirement Coach are trading names of Capture Success Ltd Reg No 01825075 Tel 07770575122