Simply put a pension is a tax efficient pot of money that is saved throughout your working life to provide a replacement income during retirement. Due to the nature of pensions, both in their importance and, in most cases, complexity, we strongly recommend seeking pension advice from one of our advisers. We use the whole of the market to make sure you achieve the highest possible income in retirement.
Recent legislative changes mean it’s important to know what benefits have previously accrued and to assess how valuable they are. Some older pensions have little nuggets of gold such as guaranteed annuity rates and are worth keeping. Other older contracts have much higher charges and do not represent good value compared to more current schemes.
Pensions with defined benefits (final salary schemes), generally have retirement benefits that are more generous than their defined contribution counterparts. As a result of these differences in pension contracts and changes in legislation, our pension advisers will instigate a comprehensive review process so that you can gain an understanding of what pensions you have or should have, and how this matches your income expectation and hopes for retirement.
Do you need pension advice?
To find out how we can help you plan for your future contact our Brighton and Hove office and speak to one of our pension advisers today on 01273 208813 or email firstname.lastname@example.org