Personal Pensions
Personal Pensions
Pensions & 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 your pension if you don't work.
Pension legislation dramatically changed on the 6th April 2006, to see how this may have affected you, contact us for a personal appraisal of your pension situation. Pension legislation is subject to further change.
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)
- Group Personal Pension Plan
- Executive Personal Pension Plan
- Employers Schemes (Occupational Pensions)
- Self Invested Personal Pension Plan
- If you would like a 'no obligation' chat about your pension arrangements, aspirations or if you have any concerns, please call us.
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. RBS Associates can provide detailed advice following a thorough financial review. Some of the main contracts available for drawing your pension benefits are:
- Annuities
- Phased retirement
- Pension Fund Withdrawal