Pension advice in Scotland | Plan your retirement 2021

Pensions and planning for retirement are not as complicated as they may seem

The most common enquiry that we receive is from clients looking to get a grasp of their pensions. Many have a combination of occupational pensions and personal pensions that they have paid into over the years. Amongst the most common questions we hear are:

What options do I have at retirement? Can I afford to retire comfortably? How much am I due to receive when I retire? How and when can I take my pension?

“Planning for a comfortable retirement and peace of mind for you and your loved ones”

Pensions and planning for retirement are not as complicated as they may seem. Rules and legislation do change regularly and it is important to keep on top of what is happening and how that affects you. However, with discipline and careful ongoing management, a financially comfortable retirement is achievable.

Commonly – as with many things in life – apathy can be the undoing of many retirement plans. Policies left to languish in highly-charged, inflexible contracts with poorly performing funds and limited alternatives are where some investors come unstuck. With the right motivation, suitable advice and a robust long-term investment strategy pension assets can be re-invigorated. So long as they remain monitored, maintained and reactive to changes in your circumstances (particularly as retirement approaches) a rosy retirement should not be out of reach.

Come in and meet us and discover more about how we can assist with your retirement plans.

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“apathy can be the undoing of many retirement plans”

As mentioned, many clients have a collection of pensions from over a number of years. Whether it be Personal Pensions or old occupational schemes – for example, Final Salary pensions or Defined Contribution pensions.

On average, workers in the UK change jobs every 8.6 years*. Therefore, many find themselves having a number of different employer pensions with various pension providers.

As a result, making sense of these can be a challenge. How much will you be due to receive in retirement and are your pensions working as hard as they could be. These are some of the key questions we assist with when reviewing your pensions.

The pension advice process – how we can help?

The pension advice process can be broken down into 4 main steps:

Initial meeting and information gathering: Typically, the first step is an initial consultation stage where there is no fee/ cost to you. Here, we are able to get an idea of your circumstances and what you’re looking to do; give you an idea of your options, considerations and the steps involved; and an opportunity for you to ask any questions. We will be able to give you some initial feedback and let you know if we feel that we could assist
Research, report & advice: We will research any matters that you have asked us to look into and give you feedback on our findings. We will then produce a pension planning report outling research, advice and recommendations where necessary. This would include an analysis of your pension(s) and recommended investment strategy where applicable.
Your decision: We will meet again to discuss the recommendations and establish whether you wish to act on our advice. In this instance you Adviser will explain how and when you may expect this to be carried out.
Implementation & Administration: We will then endeavour to transact the business that you have instructed us to carry out on your behalf. This includes, processing of application forms and supporting documents; liaising with product providers and third parties