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 at IEP Financial 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?
At IEP Financial our pension planning advice will show you the full options available by guiding you through the whole pension process from start to finish with all the information explain and laid out in clear and concise manner.
To find out how IEP Financial can help you plan for your future contact our Brighton & Hove office and speak with one of our independent financial advisers today.
Download and read our free Key Fact Guide here on Pensions freedom