Planning for your retirement is never easy and it is often said that if you discover you have made a mistake upon retirement it is too late to rectify, as it is not possible to “roll back the years”.

With the pensions simplification rules of April 2006 now fully embroidered into the tapestry of Financial Planning it is essential for our clients to know how their existing provision may have changed, along with a clear understanding of how future benefits can be exercised and taken.

In most cases, you can now make provision of up to 100% of your annual income, and also there are more flexible methods of drawing your income at retirement. This flexibility meets with many people’s renewed expectation of early retirement, where they perhaps now see themselves remaining in work, but maybe on a part-time basis?

For self-employed people, where reliance on the state providing your retirement income is not an option, it is evidently clear that the need to save is vital. There remain many tax planning opportunities to be utilised, both on a personal and also a business level to make saving more attractive.

Seeking professional help in retirement planning has never been more important not only to plan ahead but also to review any existing plans to ensure they are still suitable for you. We feel that our impartial and individual assessments will place you in an informed position to make the right choices about your retirement planning goals.

Please click here for a summary of the changes to pensions