Successful Retirement
There's more to a healthy pension than having all the income options at your disposal. In a world where pensions become as accessible as bank accounts, it will be equally important that getting your hands on your money is simple and pain-free.
Having income which is paid timely, with the appropriate tax deductions and necessary reporting to make your tax affairs as uncomplicated as possible, will reduce the administrative burden.
Most people have an idea of how their retirement looks, but many do not know how it will be achieved - how much it will cost - how much you need to save (you will have your own questions to add).
Our approach is to guide the process of discussion to provide you with clearer ideals and expectations that are relevant to your personal needs.
Sustainability
We monitor the longevity of your proposed withdrawals.
We track the performance required to meet your income needs.
With many clients acquiring a number of different pensions throughout their working life, having a single view of the total pension holdings, investment strategy, costs and overall risks, will become vital.
Timing
It's easy to think that you have time on your side to get your pension ready to provide a sustainable income
What does that income look like day 1, year 5, year 20?
What if you die before taking benefits? Who should recieve your pension instead
There is also the element of Tax and when planning your pension, how will tax affect you?
Inheritance Tax Planning
Following the Budget in 2025, Pensions will now form part of an estate for Inheritance Tax
This is something we haven’t had to contend with since 2015, so we now need to consider how this will affect pension pots and what options may be available to mitigate the burden
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All employers must offer, or automatically enrol staff into a Workplace Pension, even if they have just 1 member of staff
We will work with employers and their staff to implement the right pension for their needs
We will make sure the pension meets the correct standards and all necessary reporting to The Pensions Regulator is completed to avoid fines
Where senior staff require bespoke pension planning, we will help the employer and employee create the right pathway
Current Lifetime and Annual allowances have created acute tax issues. A large part of pension planning has to incorporate immediate and future tax-planning to avoid punitive bills
What about my old pensions?
Many of us have collected various pensions from previous jobs. What we do not realise, is like any other insurance policy, they can be switched;
New style policies are often cheaper, with greater flexibility when contributing or withdrawing money
Investment strategies should change, or at least, be reviewed regularly. Newer products may have better or wider investment options
Easier access to information, valuations, changes to contributions via the internet is often better within more modern policies
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Company directors (those that can control how their income is paid) can use a pension to make contributions through their limited company for tax advantages.
Contributions can be offset against corporation tax and generally avoid income tax and National Insurance contributions (NICs), making them highly tax-efficient.
Key Features and Benefits
Tax Efficiency: Employer pension contributions for a director are usually treated as an allowable business expense by HMRC, provided they are incurred "wholly and exclusively" for the purposes of the business's trade. This reduces your company's taxable profits and cuts your corporation tax bill
No NICs or Income Tax on Company Contributions: Unlike taking a salary or dividends, company contributions to your pension are not subject to employer or employee NICs, or income tax.
Access to Funds: You can usually access your pension savings from age 55 (rising to 57 from April 2028), with up to 25% available as a tax-free lump sum (as at Jan 2026)