Pensions
Jump to : Pension Planning / Retirement Planning
When it comes to providing for our retirement too many people are doing too little too late. Putting away even a small sum early on can make a big difference to the lifestyle you will enjoy when you retire. The golden rule for most people, is to not rely on the State alone. Modern pensions benefit from tax breaks and nowadays, you can even contribute to a pension if you don't work.
Pension legislation has changed significantly over the past few years, to see how this may have affected you, contact us for a personal appraisal of your pension situation.
Pension Planning
Today there are a number of tax efficient ways of providing for a comfortable retirement. The area is complex and choosing the right vehicle requires a detailed understanding of your personal circumstances, tax position, employment status and more. The following are some of the main types of pension contract:
Stakeholder pension
Personal Pension Plan (PPPs)
Executive Personal Pension Plan
Self Invested Personal Pension Plan
Employers Schemes (Occupational Pensions)
Group Personal Pension Plan
Retirement Planning
This is all about knowing how to maximise the income (& Capital) from your pension arrangements (and other assets) and should take into consideration your personal circumstances, tax efficiency, inheritance tax, your beneficiaries, flexibility and of course control. Taylor & Taylor Associates Ltd can provide detailed advice following a financial review. Some of the main schemes available for drawing your pension are:
Annuities
Phased Retirement
Pension Fund Withdrawal
If you would like a 'no obligation' chat about your pension arrangements, aspirations or if you have any concerns, please call us on 01603 783200 or email info@taylorandtaylorassociates.co.uk
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