Planning for Retirement
Four Facts about retirement:
- The more money you put in, the more you’ll have when you retire.
- The later you leave it, the more it costs.
- When you retire it’s too late – get it wrong and you have to live with it.
- The State isn’t going to help you as much as it has in the past.
So how can we help?
We know pension planning is really confusing and now more than ever you need support and guidance while you are making your decision.
But here we list some of the advantages of a personal pension plan:
- You get tax relief on your contributions – higher rate taxpayers can boost their contributions by 40%.
- There is no CGT on the fund’s growth and minimal income tax.
- You can receive a lump sum which is tax free when you take your pension.
- However – there is no guarantee how much pension you will receive when you retire. That’s why it is important we review it together regularly.
- You will pay tax on your income from your pension.
The world of pensions is moving fast, and the need for advice is now greater than ever.
Please talk to us and we will help you make the decisions that will mean you have the income you need when you stop working.
Click here for more information http://www.moneymadeclear.org.uk/products/pensions/how_pensions_work.html
Other Options
Planning for retirement isn’t just about putting money into a Pension Plan, although that will form an important part of any serious retirement planning. Here are some other ideas – just click to be taken to the link.
Finally, it is important to make sure your State Pension is fully funded – click here to find out about yours.Dont forget to check your State Second Pension as well - click here
