Retirement Planning/Annuity Purchase
Taking benefits from your pension plans can be confusing. There are many considerations, such as; should you make provision for a spouse; should you opt for an increasing pension; should you take a fixed term guarantee; would an investment linked annuity or drawdown plan be suitable?
We deal with many clients retirements every year and can make sense of the complex choices clients need to make.
Unfortunately, far too many people just accept the offer they receive from their pension provider at retirement, we can usually improve clients pensions by shopping around.
Many clients qualify for enhanced pensions due to ill health, many common conditions such as high blood pressure or high cholesterol can qualify for enhanced rates even if they are well controlled. Even lifestyle factors such as smoking an height to weight ratios can lead to improved rates.
Your Step-By-Step Guide
Many people do not have sufficient financial provisions to provide for their retirement adequately. The planned changes to the pensions sector in forthcoming years will only add to the pressure on individuals to take responsibility for planning their needs in retirement.
The following steps should help guide you through what could be done when approaching your selected retirement age:
- Your State Benefits
- Your Existing Pots
- Your Needs
- Your Shortfall
- Your Investments
- Your Outstanding Commitments
- Your Up-to-Date Figures
- Your Investments
- Your Options
- Your Retirement Age
- Your Up-to-Date figures
- Realising the Potential
To view or download the full step-by-step guide, please click here.
Want to take the ‘tire’ out of retirement? Need help with any of the above?
Contact one of our experienced, knowledgeable and friendly advisers for a chat:
Mark Barr APFS, Daryl Franklin Cert PFS or Davina Olson Dip PFS on 01473 408422 or ifa@wmibl.co.uk
