Retirement Planning Advice – Now is the time!

Very few aspects of financial planning are anywhere near as important as pension and retirement planning. That’s where independent financial advisors can step in with a smile, to help guide you through these tricky and complicated times.

The value of the investment can go down as well as up and you may not get back as much as you put in.

retirement planning Peterborough

Retirement Planning - It’s a confusing subject with all the rules and regulations that are constantly changing. So to save you a bit of hassle, and to ensure that you are financially prepared for this upcoming pain in the neck, help from a professional advisor is recommended to ensure you put together the best plan to suit your lifestyle and needs. You advisor will make you aware of all the options to help save for your retirement.

They say it’s never too early to start putting together a plan for your retirement. Common sense would suggest the earlier you put together a plan, the more flourishing your retirement is likely to be, simply because you have a longer time span for your investments to grow. This will then mean that you’ll have the income you need in retirement.

On the other hand, the later you leave it to begin planning and saving, the more you will have to pay into your pension plan later on down the line.

If you already have a pension plan, we will put you in touch with an experienced pension IFA who will assess the suitability of that plan in line with your circumstances. If changes need making, your advisor will tell you why and suggest alternatives which would be more suitable.


At the retirement stage?

When you do decide to take out your pension benefits, it is very likely to be a tad more confusing then you probably imagined. There are many different options for taking out your pension including annuities, unsecured pensions and alternatively secured pensions. It has been said that some people believe that you have to purchase a lifetime annuity from the life insurance company you’ve been saving with. However this is not true. If you have personal pensions then you can exercise what’s known as an ‘Open Market Option’ which allows you to shop around for the best pension annuity rate. Additionally, it’s possible to take benefits from your pension funds without purchasing any annuity through options such as unsecured pensions, phased retirement.


Questions to ask (retirement options)

These are just some of the questions you may need the help of an Independent Pensions Advisor to answer…

  • If I buy an annuity, what type of annuity should I take and which provider should I use?
  • Should I delay buying an annuity? And if they do delay, when should I annuitise?
  • Should I take an annuity or an income withdrawal?
  • Is equity release an option?
  • Are the consumers other assets still appropriate?
  • If I take income withdrawal, what is the amount of income that should be taken? What amount of risk will the fund be exposed to and when should I buy an annuity?

For sound and impartial retirement planning and financial advice in Peterborough, please call  Derngate Wealth Management on 01733 561 615 – We’re always happy to help!



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