Are you making the most of your retirement plans?
Make the most of your retirement plan with tax-efficient strategies from an independent financial adviser.
With one in five adults saving less than 5% of their income (22%), [1] having an independent financial adviser guide your retirement plan could mean the difference between surviving or thriving in retirement.
Most people think only of pensions when considering retirement, but there are four main elements of retirement planning:
- Financial security in retirement
- Tax relief
- Inheritance planning
- Potential for growth through your pension
According to a recent YouGov survey, education in wealth management for those who work full or part-time in the UK needs some attention. Of those surveyed, only 30% of Britons admitted to having a solid understanding of inheritance planning. Less than half understand the benefits of tax relief while still employed. Are you missing out?
Working with a financial adviser for your retirement planning, especially an independent adviser with impartial whole of market advice, can ensure you’re on track towards your goals. Whether you want to relax on a cruise, build a summer house or treat the grandchildren; having financial freedom in retirement helps secure a comfortable life later on.
A financial adviser qualified in retirement planning and pensions will:
- look at your financial situation in full,
- conduct a review, and
- create a tailored retirement plan based on your needs and goals.
Find out more about this process and the benefits of financial advice here. Retirement planning and pensions are just one area of wealth management covered by an independent financial adviser. Book a consultation to find out more.
THIS ARTICLE DOES NOT CONSTITUTE TAX OR LEGAL ADVICE AND SHOULD NOT BE RELIED UPON AS SUCH. TAX TREATMENT DEPENDS ON THE INDIVIDUAL CIRCUMSTANCES OF EACH CLIENT AND MAY BE SUBJECT TO CHANGE IN THE FUTURE. FOR GUIDANCE, SEEK PROFESSIONAL ADVICE.
A PENSION IS A LONG-TERM INVESTMENT NOT NORMALLY ACCESSIBLE UNTIL AGE 55 (57 FROM APRIL 2028 UNLESS THE PLAN HAS A PROTECTED PENSION AGE).
THE VALUE OF YOUR INVESTMENTS (AND ANY INCOME FROM THEM) CAN GO DOWN AS WELL AS UP, WHICH WOULD HAVE AN IMPACT ON THE LEVEL OF PENSION BENEFITS AVAILABLE.
YOUR PENSION INCOME COULD ALSO BE AFFECTED BY THE INTEREST RATES AT THE TIME YOU TAKE YOUR BENEFITS.