Retirement Planning assistance in Raydon

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

Finishing your working life is usually a wonderful time; but making the appropriate financial decisions, at such a landmark time in your life, might be daunting and likely probably the most vital decisions you make.

There are a variety of solutions readily available to you and it’s essential to obtain it appropriate and get guidance.

Annuities

Shopping for a pension annuity is definitely an significant one-off choice.

An annuity converts the funds built up within your pension into a frequent revenue for the rest of one’s life removing the worry of having to price range for an unknown time period.

Under existing UK pension legislation you could to begin taking your pension advantages from age 55. You do not must quit function to start getting your pension revenue.

Before you obtain an annuity, you are going to ordinarily be entitled to take as much as 25% of the pension fund as a tax-free cash lump sum. The remaining 75% of one’s fund can then be used to get an annuity. Alternatively, you can use 100% of your pension fund to get an annuity.

There are numerous forms of annuity obtainable with unique selections attached to them.

Open Market place Solution

You do not must invest in your annuity out of your pension provider. Shopping for your annuity from a further provider could improve the income offered to you, specifically where your pension provider is not a specialist annuity provider or does not present enhanced income based on health issues.

Shopping for a pension annuity is an crucial one-off selection, possibly the most crucial choice you may make.

Drawdown

This option is designed to defer the obtain of an annuity, leaving your pension fund invested while drawing an income straight from it. The remaining fund is left invested until such time as either you decide the atmosphere is correct to get an annuity or if such each day by no means arrives, maybe indefinitely.The revenue you take may be what ever you need (subject to a maximum defined by the Government?s Actuary) and inside those limits is often elevated or decreased as your situations transform.

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