Retirement Planning advice in Gravesend

Retirement Preparing for both Pre-Retirement and Post Retirement is usually a major part of life that you just might have been looking forward to for a quantity of years, or not. But retirement can also be rather daunting.

Finishing your working life can be a great time; but making the correct monetary decisions, at such a landmark time within your life, is usually daunting and almost certainly by far the most critical decisions you make.

There are quite a few possibilities obtainable to you and it truly is important to acquire it suitable and get suggestions.

Annuities

Acquiring a pension annuity is definitely an critical one-off choice.

An annuity converts the funds constructed up inside your pension into a standard earnings for the rest of one’s life removing the worry of obtaining to budget for an unknown time frame.

Under existing UK pension legislation you’ll be able to to begin taking your pension positive aspects from age 55. You do not need to quit work to begin receiving your pension income.

Before you purchase an annuity, you might normally be entitled to take up to 25% of your pension fund as a tax-free cash lump sum. The remaining 75% of your fund can then be used to purchase an annuity. Alternatively, you could use 100% of one’s pension fund to purchase an annuity.

There are numerous forms of annuity out there with distinctive selections attached to them.

Open Industry Alternative

You do not have to acquire your annuity out of your pension provider. Purchasing your annuity from one more provider could enhance the revenue obtainable to you, particularly where your pension provider is not a specialist annuity provider or doesn?t supply enhanced revenue primarily based on well being troubles.

Shopping for a pension annuity is definitely an vital one-off decision, possibly the most vital decision you’ll make.

Drawdown

This solution is designed to defer the acquire of an annuity, leaving your pension fund invested whilst drawing an income directly from it. The remaining fund is left invested till such time as either you decide the atmosphere is right to purchase an annuity or if such every day in no way arrives, perhaps indefinitely.The income you take could be whatever you will need (topic to a maximum defined by the Government?s Actuary) and within those limits is usually enhanced or decreased as your situations adjust.

To discuss your Retirement planning requirements
call us today on 01621 876030.