Pension legislation has changed dramatically and will continue to do so under successive governments. At Glasgow Wealth, we believe the provision of adequate, tax-efficient income in retirement should be a high priority for all clients and your specialist adviser will work with you to this end.
We understand that planning for retirement can be a daunting task. Pensions and retirement plans are often put together piecemeal as a collection of current and former employers pension schemes, private pensions sold by banks, never-to-be-seen-again ‘advisers’ or savings that have been set aside with retirement in mind.
To establish a firm grasp on making retirement work for you financially, it is paramount that planning takes priority. Your Adviser will work closely with you to understand when you want to retire, what level of income you require to do so comfortably, what arrangements you have already made and otherwise build a thorough understanding of your retirement goals.
When this has been achieved, we can then look to establish whether any improvements may be made. Sometimes, the right advice is to do nothing. Otherwise, we will be able to recommend where we can improve tax-efficiency, reduce costs or better investment performance.
We use cutting-edge software to model your income requirements in retirement and plan as far as possible to ensure that you provide sufficient income (or capital) as it is required in retirement. We appreciate that what you will want to spend your income on will be very different earlier in retirement compared to later in life. It is also good practice to have an understanding of what happens to your pensions or retirement plans in the event of your death, we will give you feedback on this and ensure that you have what you need to put you pension ‘house’ in order.
We specialise in helping you to plan for your retirement. Whether specific pension advice or more general retirement planning – we can help guide you through your retirement options.
Contact us now for a FREE initial consultation.
Find more opinion on our blog: Final Salary Pension Transfers – are they worth the risk?