Pensions and Retirement Planning...

A vital element of
wealth management...

In a world where people are living for longer and the State Pension is being paid later, pensions and retirement planning are a vital element of your wealth management and financial planning strategy.

With pension legislation having been the subject of huge changes in recent years, saving for retirement remains a very complex area with varying rules and regulations. Our pension specialists can help you to make the most of your pensions and other assets and achieve your retirement goals.

Saving for Retirement

There are various ways of funding for retirement such as pensions, ISAs and other investments but deciding how much you need to set aside for your retirement is challenging.

During our meetings we will help you to quantify your retirement income needs, utilising computerised cash flow modelling tools, where appropriate, before recommending a solution that allows you to achieve your retirement goals and aspirations.

We can advise you on;

• Existing pensions, new pensions and other investments
• Pension transfers
• Pension tax relief
• Annual allowance planning (incl. carry forward, tapered and money purchase annual allowances)
• Lifetime allowance planning (incl. lifetime allowance protection)
• Pension sharing on divorce

Your dedicated financial planner will regularly review your overall retirement plan with you to ensure that the recommendations continue to be suitable based on your circumstances and an ever changing economic and legislative backdrop.

Retirement Income Options

With the introduction in recent years of more flexible retirement options, there are many avenues to consider when deciding how to provide an income in retirement.

We can help you to understand the options available to you, such as;

• Pension commencement lump sum (tax free cash) versus income
• Flexible access drawdown
• Uncrystallised fund pension lump sum
• Small pots
• Annuities

We will work with you to understand your income requirements and will provide recommendations to make the most of your assets upon retirement using your available tax allowances and reliefs.

You will benefit from regular reviews where we will assess your current financial position, the continuing suitability of our recommendations to meet your ongoing income requirements, the performance of any underlying holdings and to plan for passing any remaining funds on to your chosen beneficiaries, tax efficiently, following your lifetime.

Get in touch to find out more about our Retirement Planning Services

Springfield Financial Services Ltd offers Retirement Planning Services to individuals throughout Preston, the Ribble Valley, the Fylde Coast and the Lake District, as well as further afield.

For further information or to arrange an initial no-obligation consultation at our offices or another mutually convenient location, please telephone us on 01772 729 742, or alternatively, simply fill out our online enquiry form and we will give you a call to discuss your requirements.

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