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Pensions

Plan for a Comfortable Retirement with Personalised Pension Solutions Designed to Fit Your Goals.

Secure Your Financial Future with Expert Pension Services Tailored to Meet Your Unique Needs

WHY US?

Secure Your Retirement

A pension ensures you have a steady income stream to maintain a comfortable lifestyle after retiring. Start early to maximise your retirement fund and enjoy peace of mind in your golden years.

01

Tax-Efficient Savings

Contributions to pensions benefit from tax relief, allowing your money to grow free of Capital Gains Tax. Higher-rate taxpayers can enjoy additional tax benefits, making pensions an investment.

02

Flexible Options

From age 55 (rising to 57 in 2028), you can choose from multiple retirement options, including annuities, drawdowns, or lump-sum payments. Tailor your pension benefits to suit your evolving needs.

03

Employer Contributions

Occupational pensions often include contributions from your employer, enhancing your retirement fund. Automatic enrolment schemes make it easier than ever to start building your pension.

04

Investment Growth

Pensions offer a wide range of investment options, including SIPPs and stakeholder pensions. Choose investments that align with your risk appetite and watch your fund grow over time.

05

Find out more

Pensions allow you to save during your working years to secure a comfortable income stream in retirement. While the range of options and tax implications can seem complex, we specialise in guiding you through your pension choices and ensuring they meet your needs.
  • State Pensions
    The new State Pension is available for those reaching State Pension Age after 6 April 2016. The current full rate is £221.20 per week (2024-25) and will increase by 4.1% in April 2025. Eligibility and payments depend on your National Insurance record. Those who retired before 6 April 2016 fall under the Basic State Pension or Additional State Pensionschemes.

    Occupational Pensions
    Employer-provided pensions can include final salary schemes (defined benefit) or money purchase schemes (defined contribution). Final salary schemes base payouts on years of service and salary, while money purchase schemes depend on contributions and investment performance.

    Personal Pensions
    These flexible schemes are open to everyone, including the self-employed, and allow for additional savings. Stakeholder pensions, a type of personal pension, have capped charges and are especially useful for those with simpler investment needs. Auto-enrolment ensures eligible employees are automatically included in workplace pensions.

    Retirement Options
    Retirement products include annuities, Flexi-access Drawdown, and Uncrystallised Fund Pension Lump Sums(UFPLS), offering varied ways to access benefits. It’s crucial to seek financial advice to choose the best approach for your circumstances.

    Inheritance Tax (IHT) Changes from 2027
    Unused pension funds will be subject to IHT if your estate exceeds £325,000 (£500,000 when leaving property to direct descendants). Funds passed to a spouse or civil partner remain tax-free. Reviewing estate plans is recommended to account for these changes.

    Key Notes
    Pensions are long-term investments and can be affected by tax and regulatory changes. It’s vital to plan early and seek expert advice to maximise benefits and minimise risks.

  • Pension simplification introduced two key controls: the Lifetime Allowance (LA), currently £1,073,100, and the Annual Allowance (AA), set at £40,000. Individuals can fund pensions up to these limits, with unused AA from the past three years eligible for carry forward. Exceeding these thresholds results in tax charges.

    Key Changes and Benefits:

    • Early Retirement Flexibility: Access pensions from age 55 (rising to 57 in 2028).

    • Tax-Free Cash: Withdraw up to 25% of your pension fund tax-free.

    • Investment Flexibility: Contribute to various plans and adjust investments within the Annual Allowance limits.

    • Drawdown Freedom: No caps or minimum income for Flexi-access Drawdown, enabling lump sum or regular withdrawals.

    • Annuity Freedom: No requirement to secure benefits through an annuity by age 75.

    • UFPLS Option: Withdraw lump sums directly, with 25% tax-free, through Uncrystallised Fund Pension Lump Sums.

    These measures increase retirement planning flexibility while ensuring compliance with tax regulations. Early planning and professional advice are crucial to maximise the benefits of pension simplification.

    Note: Pensions remain subject to tax and regulatory changes, and investment returns are not guaranteed.

  • From the age of 55 (57 from April 2028), several options are available for accessing your pension benefits. Each option offers unique features tailored to individual needs and preferences.

     

    1. Draw Benefits from Your Current Scheme

    Take up to 25% of your pension fund as a tax-free lump sum (PCLS), with the remaining balance generating taxable income. Some schemes offer partial transfers for added flexibility.

     

    2. Purchase an Annuity

    Shop around the open market to find a provider offering higher annuity rates. An annuity guarantees lifelong income, and enhanced terms may apply for health conditions. You can still withdraw your tax-free lump sum before transferring funds.

     

    3. Flexi-Access Drawdown (FAD)

    Access 25% of your fund tax-free, with the rest remaining invested. Withdraw income flexibly, taxed at your marginal rate. Investment performance will affect the longevity of your fund, so regular reviews are crucial.

     

    4. Uncrystallised Fund Pension Lump Sum (UFPLS)

    Withdraw one-off or multiple lump sums, with 25% tax-free and the remainder taxed. There’s no cap on withdrawal size, but future contributions are limited to a £10,000 Annual Allowance.

     

    5. Phased Retirement

    Gradually access your pension in smaller segments, each releasing a tax-free lump sum and a corresponding annuity. Remaining segments stay invested, offering potential for future growth.

     

    6. Combination Plan

    Blend options like phased retirement and Flexi-access Drawdown. Mini-plans within the scheme allow you to control the amount and timing of withdrawals, balancing tax-free cash and taxable income.

    Important Considerations

    • Tax Implications: Income and withdrawals are subject to tax regulations, which may change.

    • Sustainability: Large withdrawals can deplete funds and reduce future income.

    • HMRC Reporting: Notify scheme administrators if accessing benefits flexibly to avoid penalties.

  • Personal pensions are flexible retirement savings plans offering individual control. Contributions grow tax-free, with government tax relief enhancing your savings (e.g., £80 invested becomes £100 with 20% relief). Higher-rate taxpayers can claim additional relief via PAYE coding. Contributions are capped at £40,000 annually, with carry-forward options for unused allowances. However, if you’ve flexibly accessed pension income, this limit reduces to £4,000 annually.

    When you retire (from age 55), you can take 25% of your fund tax-free and choose from options like annuities or flexible drawdowns. These plans also offer diverse investment choices to match your risk profile, which can be adjusted over time.

    Stakeholder Pensions

    Stakeholder pensions are a cost-effective alternative to personal pensions, with charges capped at 1.5% for the first 10 years, reducing to 1% afterwards. While they are typically less expensive, investment options may be more limited.

    Key Benefits

    • Tax-efficient growth with government-enhanced contributions.

    • Flexibility to manage contributions and investments.

    • A tax-free lump sum (25%) available at retirement.

    Note: Pensions are long-term investments and subject to market and regulatory changes. Seek financial advice to optimise your retirement savings.

  • 1. Evolving Pension Options

    The pensions industry has advanced significantly, offering greater flexibility in investment choices and pension structures. Regularly reviewing your pension provision is essential to ensure it aligns with your retirement goals.

    2. Self-Invested Personal Pensions (SIPPs)

    A SIPP is a tax-efficient pension plan that allows for personalised investment choices. It operates under the same tax rules as conventional pensions but offers broader investment options. Each SIPP is unique, and a scheme administrator is required to manage the plan.

    3. Benefits of SIPPs

    SIPPs provide the opportunity to invest in a wide range of assets, including:

    • Stocks and shares (listed or unlisted).

    • Unit trusts and Open-Ended Investment Companies (OEICs).

    • Commercial property and property funds.

    • Government bonds and fixed-interest securities.

    While highly flexible, SIPPs are best suited for those with large funds or advanced investment knowledge, as higher charges can erode smaller savings.

    Key Considerations

    • SIPPs require careful management and may not be suitable for all investors.

    • Additional charges for administration and investments should be considered.

    • Regular reviews are critical to optimise performance and maintain tax efficiency.

    Note: Pensions are long-term investments and subject to tax and regulatory changes. Always seek professional advice to ensure your pension choices meet your needs.

Our Team

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Oliver Barat

Financial Adviser

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Matthew Leadbetter

Financial Adviser

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Gar-Lok Lau

Financial Adviser

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Luke Kalsi

Financial Adviser

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David Buckingham

Financial Adviser

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Ian Prideaux

Financial Adviser

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Satwinder Thind

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Alice Howard

Office Manager

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Jeanette Davis

Support Consultant

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