Retirement Planning

Retirement Planning

Pensions can seem quite daunting: terminology can be difficult to understand, tax advantages frequently change, there are specific rules that govern how much you can save and when you can access your savings; and there is uncertainty about how much pension you will actually receive when you retire.

We Can Help:

Develop a Savings Plan for Retirement – how much will you need to save, and where should you invest those savings, to give you the income you’d like in retirement and at the age you’d like to retire.

Make sure that you can afford the pension contributions and that they maximise tax advantages and tax allowances

Monitor and review existing pension arrangements to ensure you’re still on track, and make recommendations to improve performance or increase contributions where necessary

Advise on Options at Retirement – maximising retirement benefits and flexibility

Restructure investments in retirement to provide more income

Make sure product charges are low and that they are not eating into your returns

If you have a public sector pension and need advice about the changes to your pension

If you are getting divorced and need advice about how to share your pensions


We Advise and Arrange:

Personal Pension Plans

SIPP’s, Self-Invested Personal Pensions

Occupational Pension Plans – Defined Benefit and Defined Contribution

Stakeholder Pension Funds

Pension Auto-Enrolment

From 2012 changes to pensions law will affect all employers with at least one worker. Employers will need to:
Automatically enrol certain workers into a pension scheme
Make contributions on their workers’ behalf
Register with the Pensions Regulator
Provide workers with certain information about the changes and how they will affect them

We Can Help:

Find out your estimated ‘Staging Date’ – the date from which you must comply
Plan for the additional costs of pension provision
Make an initial assessment of the workforce to identify who will need to be automatically enrolled
Assist in the choice of pension provider
Prepare the data necessary to send to the provider
Prepare the information necessary to send to your workforce and then run workshops to explain the process and implications to them
Set up payroll processes
Ensure that you are ready to comply on your Staging Date
Complete your Declaration of Compliance once all the above have been completed

Small Business Advice

As a business owner, we understand that the well being of your personal finances is inextricably linked with the well-being of your business. By looking at both yours and the business’ financial position we can help you to make financial decisions that benefit both. For example, it is possible to structure how you take your income from the business in a way that maximises tax efficiency within the business and for you personally.

There are also a number of areas of your business development that could require more specific financial advice.

We Can Help:

Your Business against unexpected events or loss of key personnel. Most small businesses are reliant on one or two key individuals for their existence and for their development. If anything were to happen to those individuals the business would also suffer.

Provide Advice for your Employees. As the new pension auto-enrolment regulations come into place, providing your employees with a good financial education so that they can make informed choices will provide you with a competitive advantage and allow you to retain satisfied employees.

Plan for your future and the future of the Business. Having built up a successful business you will need to think about an exit strategy. How can you step back from the business and how can the business continue without you. Planning ahead can put you in control of these decisions.

We advise on:

Key Person Insurance

Shareholder or Partnership Protection

Pension Planning

Succession Planning

Savings and Investments

We Can Help:

Work out a regular savings plan. How much can you comfortably afford to save and where to invest those savings

Provide you with an investment plan for a lump sum
For both of these we will ask you what you hope to achieve, over what timescale and how much risk you’re prepared to take with those savings and investments.
Make sure that investments recommended are suitable for you, that you understand any investment risk involved and that this is consistent with the level of risk you’re happy to take and the return you might expect to receive
Make sure that any product charges are low and that they are not eating into your investment returns
Maximise tax advantages and tax allowances
Monitor and review existing savings and investments to ensure you’re still on track
Advise on any changes that may be necessary to keep you on track

If you are a trustee and need advice on an investment strategy for the trust monies.

We Advise On:

Savings Accounts;
National Savings and Investments
Unit Trusts and OEIC’s
Onshore and Offshore Bonds
Investment Trusts
With-Profit Investments
Structured Products and Hedge Funds
Exchange Traded Funds
Venture Capital Trusts
Enterprise Investment Schemes

Tax Planning

Sensible and careful tax planning can make a huge difference to your financial situation.

We Can Help:

Ensure that you maximise tax efficiency in all areas – income tax, capital gains tax and inheritance tax
Make the most of available tax reliefs and allowances
Make the most appropriate use of tax efficient savings and investment products
Structure your affairs so that your lifetime financial objectives are met
Protect your estate and prepare for any associated tax costs

(The FCA does not regulate tax advice)

Tax Planning Using:

Offshore Investment Bonds
National Savings and Investments
Business Property Relief
Trusts and Life Assurance Products
Gifts and Transfers

Financial Protection

Financial Protection is an important part of providing financial security to you and your family in the event of something unexpected happening.

If you or your partner were to die unexpectedly, would the surviving spouse have enough to live on? Would the mortgage be repaid? If you or your partner was unable to work for a prolonged period through illness or accident would your salary cease to be paid?

We all hope that nothing like this would happen to us. But if it did, it could have a devastating effect on a family’s finances.

There is no way to completely eradicate risk, but good financial planning can minimise the effects of any such unexpected events.

We Can Help:

Establish, with you, the levels and types of financial cover you might need

Find the most appropriate product for your purpose, that represents the best value in terms of cost of cover and the terms and conditions of the contract

Review any existing cover to ensure that it is still suitable and that the level of cover reflects your current needs and circumstances

We Advise On:

Life Assurance – whole of life; term; endowments

Income Protection

Critical Illness

Accident, Sickness and Unemployment

Mortgage Protection

Private Medical Insurance

Care Fee Planning

We Can Help:

Provide you with advice on all aspects of care fees planning in a supportive and sensitive manner

Discuss options with you and your immediate family

Find the best option at the time you need to consider going into a care home facility

In the majority of cases where an Immediate Needs Annuity is needed, we will find the best Policy for you. These can provide very attractive rates that are guaranteed for your lifetime, giving you and your family the peace of mind that you won’t run out of money to pay the care fees