Retirement Planning Services in Preston, Lancashire
In a world where people are living for longer and the State Pension is being paid later, pensions and retirement planning are a vital element of your wealth management and financial planning strategy.
With pension legislation having been the subject of huge changes in recent years, saving for retirement remains a very complex area with varying rules and regulations depending on what type of plan you have and when you paid into it.
Saving for Retirement
There are various ways of funding for retirement, including occupational pension schemes, private pension plans, Investment ISAs and buy to let properties. However, due to the generous tax relief on pension contributions, pensions still remain the plan of choice for most individuals.
Springfield Financial Services Ltd’s experienced pension specialists will review your existing retirement arrangements to ensure that you understand what you have and that the provisions are suitable for your requirements. In addition, we are able to arrange and advise on new retirement plans, which are appropriate for your circumstances and retirement objectives.
As pension specialists, we are also able to provide advice on pension rights on divorce. The courts are able to take pensions into account when dividing up the matrimonial assets and with a pension often being one of the largest assets (usually after the matrimonial home), it is important to understand what options are available to ensure fair treatment and entitlement.
Retirement Income Options
When considering your retirement income options, there are many rules and regulations that must be taken into account. Historically, retirement was usually funded from the income generated from an annuity purchased at retirement. However, with the introduction of more flexible retirement options, there are now many other avenues to consider. We are able to explore the alternative options available such as fixed annuities, investment linked annuities, pension drawdown and phased drawdown in order to identify the most suitable course of action.
For many, purchasing an annuity remains a good solution and where this is the case, it is important to secure the best income available. Our independent advisers can research the Open Market Option and consider enhanced, impaired life and lifestyle annuities to ensure that you secure the greatest income.
Where drawdown is appropriate, structuring a suitable portfolio and managing the sustainability of income are key issues.
Get in touch to find out more about our Retirement Planning Services
From our offices in Preston, Lancashire, our expert advisers can explain the retirement planning options available to ensure that you get the most out of your pensions and retire with the best possible benefits to suit your current and potential future needs.
For further information or to arrange an initial no-obligation consultation, please telephone us on 01772 729 742, or alternatively, simply fill out our online enquiry form and we will give you a call to discuss your requirements.