Pensions & Retirement Planning

The concept of retirement has changed. We find it is becoming less common for people to reach age 60 or 65 and simply stop working. More flexibility is therefore required in retirement. In addition, retirement income can be generated from many different sources, all of which will be taxed differently. We therefore ensure we consider all of your assets when formulating a solution that minimises your potential liability to Income Tax, Capital Gains Tax and Inheritance Tax. A “pension” is simply another asset with its own unique tax treatment.

Our approach to advising clients at retirement is therefore based on understanding all aspects of your financial position to plan a strategy to deliver a rising, tax efficient income from your different assets.

For clients who are funding their retirement, the most important factor to consider is the level of contributions being paid. It is also crucial to ensure you are in the right investments. Too many pension funds are left languishing in funds closed to new business or that are not being managed effectively.

We can therefore review your existing pension arrangements to ensure they offer you a suitably wide range of investment options. We can then apply our investment approach to your pension investments to ensure you are maximising the performance.

Penney, Ruddy & Winter are experts in UK pensions. We can advise on all aspects of pension planning, including the following:

  • Review and analysis of your existing pension plans
  • Pension planning for owner-managed businesses, using Small Self Administered Schemes (SSASs) and Self Invested Personal Pensions (SIPPs)
  • Pension & Divorce advice
  • Maximising tax relief through pension contributions
  • Mitigating the effects of the Lifetime Allowance and Annual Allowance
  • Final salary pension reviews

We have two Chartered Pension Transfer Specialist advisers available with many years’ experience to deal with the most complex pension queries.