Pensions

When it comes to providing for our retirement too many people are doing too little too late. Putting away even a small sum early on can make a big difference to the lifestyle you will enjoy when you retire. The golden rule for most people, is not to rely on the State alone. Most pensions benefit from tax breaks and nowadays you can even contribute to your pension if you don't work.

The Pensions Freedoms applicable from the 6th April 2015, has affected us all in a variety of ways, and is likely to continue to do so. This is where we can help you plan for your future.

Pension Planning

Today there are a number of tax efficient ways of providing for a comfortable retirement. The area is complex and choosing the right vehicle requires a detailed understanding of your personal circumstances, tax position, employment status and more. The following are some of the main types of pension contract.

• Personal Pension Plan (PPPs)
• Employers Schemes (Occupational Pensions)
• Auto Enrolment Schemes
• Group Personal Pension Plan
• Executive Pension Plan
• Self-Invested Personal Pension Plan (SIPPs)

If you would like a 'no obligation' chat about your pension arrangements and aspirations or if you have any concerns, please call us on 01255 254450.

Retirement Planning

We all want a secure financial future but with all the options available, advice is needed and this is where we can help you. The choice used to be maximizing income and capital returns but this isn't always what's needed. Retirement planning needs to take into consideration your personal circumstances, tax implications including inheritance tax, your potential beneficiaries, income flexibility and of course control.

Edmans IFA can provide you with detailed advice following a thorough financial review. Since the Pension Freedoms were introduced a variety of options have arisen including:

• Annuities (Lifetime, Fixed Term, With Profits, Ill Health, Unit Linked etc)
• Scheme Pension
• Phased retirement
• Capped and Flexible Drawdown (Pension Fund Withdrawal)
• Uncrystallised Pension Fund Lump Sum (UFPLS)
• Third Way Pensions

A PENSION IS A LONG TERM INVESTMENT THE FUND VALUE MAY FLUCTUATE AND CAN GO DOWN. YOUR EVENTUAL INCOME MAY DEPEND ON THE SIZE OF THE FUND AT RETIREMENT, FUTURE INTEREST RATES, AND TAX LEGISLATION