Pensions

If you are lucky enough to have a pension plan that is linked to your salary and service then this will be a valuable benefit. Under some circumstances it may be wise to consider exiting such a scheme, although these are very rare.

Certainly it is advisable to have a review of a Final Salary Pension if a scheme is currently under funded and has no realistic way of paying your benefits in retirement or where you are in ill health and unlikely to benefit from the scheme in retirement.

If you like advice on this subject then please contact Andrew

• You are not paying excessive charges, as over time pension plan charges have been gradually reducing;
• You do not have unnecessary penalties on your contract such as having plans that would not return the full value of the fund on death.

Another major pitfall for a lot of people’s pension is that they are not in Trust and so add to the burden of Inheritance Tax unnecessarily.

The most important part about pension planning is having your money invested in the right places. 90% of the return of a pension fund is dependant on having your money invested in the right assets and so having a wide choice of funds is very important.

Many pension plans have old very simple fund choices which do not allow access to what would be your best possible investment strategy.

We will undertake a review of your pension plans for you and prepare recommendations based on our findings. You would like to take advantage of this service.