Please note that the following is for information purposes only. You should always seek financial advice before making any financial decisions.
YOUR RETIREMENT
Since the pension flexibilities rules came into force in 2015 there have been more options than ever for you to access your pension in the way that best suits you. Whether you want a secure income, regular lump sums or ad hoc payments – the choice is yours. We will be happy to guide you through all the options for your retirement and help you take your income in the most tax efficient way possible.
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When you first access your pension 25% of the value is available to you tax free as a lump sum – you can go on a holiday, pay off debts or reinvest the money – it’s entirely up to you, if you want to know how to get to your pension or the options you have to reinvest the tax free cash we are here to help.
TAX FREE CASH
One of the main advantages and most commonly known details of a pension is the ability to withdraw 25% of the fund tax free
FLEXIBLE ACCESS
Piece together your retirement income how you want too. Drawdown gives you the flexibility to take money from your pension as and when you need it whilst the fund remains invested and has the potntial to grow. Additionally, anything left over after you die can be passed on without the burden of inheritance tax
MIX & MATCH
The beauty of pension flexibilities is that you do not have to decide on the whole fund now – maybe you want to use some of the fund to purchase an annuity now while the rest remainis invested, you can then revisit your pension in the future and decide what you want to do with the rest of the pot
MAKE SURE YOU ARE AWARE OF THE RULES
Of course, there are going to be some rules you have to be aware of when drawing your pension – especially if you are still in employment and contributing to your plan – we will be able to advise you to help avoid any unnecessary tax charges
Pension Wise
Pension Wise is a free and impartial guidance service offered by the government.
