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At Retirement Advice

If you have reached or are approaching the age at which you would like to start taking a retirement income, we can advise on the many changes currently taking place and how they may affect you.

Retirement Planning

These days, many people find themselves gradually moving into retirement over a number of years, making retirement choices no longer a one-off decision.

The State Pension changed in April 2016 and State Pension Ages are steadily increasing over the coming years. In the March 2014 budget, it was announced that there would be increased flexibility in how you draw your pension income. So, from 2015 onwards, it means you can withdraw as much as you wish from your pension fund, without the need to purchase an annuity. Generally, up to 25% of this can be tax-free with the remainder subject to tax. However, whilst legislation has changed, it is important to be aware that many older style plans may not be amended to allow the increased flexibilities.

Obviously, it is important you make the right decision regarding your pension, depending on your personal circumstances, the tax rate you are liable to and requirements, which is where our expertise comes in. 

As we are impartial, independent financial advisers, we can advise on tax-efficient solutions for your needs and answer any questions you may have. 

We consider your post - retirement circumstances, looking at whether an annuity provides the best option, or if alternative options, such as phasing your retirement, drawing-down an income or taking the fund in one lump is the most suitable for your individual situation. We also advise on ways of passing on your pension to your next of kin after your death.

Whatever your queries, whether income drawdown, state entitlement, annuity purchase or personal and age allowances, we can explain things clearly and concisely, unravelling any jargon you don’t understand with clear, accurate information as well as assisting with the completion of the many forms you are likely to receive.

Please contact our Financial Services Department for a confidential, no-obligation consultation on retirement planning / retirement saving on 01473 408422.

Contact Woodward Markwell

Please call us on 01473 408422 or click above to email and we will respond to your enquiry as soon as possible.

Click here to enquire by email