|
Retirement is no longer the simple issue it was, and important
legislative changes that take place in April, 2006 will give people even
more choices when they retire. The requirement for you to
use most of your pension fund to purchase a “lifetime pension” when
you retire has already gone, and the number of alternative options to you
will continue to increase.
Can you make the following choices correctly without
seeking proper advice?
ü
Do you accept the pension that your Employer or Insurance Company
offers you?
ü
Do you take the Tax Free Cash (is it good value?) and, if so, what
do you do with it?
ü
Do you take the lump sum value of the whole of your pension to an
alternative provider who may provide you with a higher pension, and if so,
which do you choose?
ü
Do you need a pension that increases, or do you need a higher
pension that remains level?
ü
How much pension would your Spouse/Partner need if you predecease
her/him, and how can you provide it?
ü
Do you qualify for a higher pension because of your medical history
or because you smoke?
ü
Could you increase your retirement pension because you are
unmarried?
ü
Can you defer taking your pension and spend other capital and
savings first?
ü
Should you invest your pension fund and take an income from it
instead of buying an annuity with it?
ü
How do "With Profit" or "Unitised" pensions
work?
ü
What on earth is "Phased Retirement"?
The most important financial decisions you make will be made at the
time you retire, and as with all financial planning, the issue needs to be
looked at along with other issues such as Inheritance Tax and other
savings. This Practice is particularly skilled at ensuring that its
Clients enjoy financial security throughout their retirement.
“Do
not retire without seeking professional
retirement advice!”
|
