Retirement Benefits

Financial planning for your retirement

Maintaining your standard of living in retirement is a concern for many people. The Government’s message that individuals need to be taking more responsibility for their financial wellbeing must be taken on board with the State no longer providing an adequate retirement pension, the rapid decline in final salary pension schemes and increased longevity.

Your situation is complex

Many people’s pension situation is complex, with a number of different pension schemes being accumulated over their working life. As part of our financial planning process, we will take time to unravel the detail and consider whether you have adequately provided for your retirement.

You need sound retirement planning advice

You can do much to ensure that sufficient critical capital is built up. This may include the best use of your annual ISA allowance or setting up a stakeholder pension. For larger sums, a Self Invested Personal Pension (SIPP) might be appropriate. Here at Burlington Financial, we can give you useful SIPP advice, ensuring that any SIPP investments you might make are consistent with your retirement financial planning goals.

You need tax efficient solutions

We will always consider the tax implications of our advice. However, any decisions should be made in the context of your overall financial plan, rather than to achieve a short term tax benefit.

You need a financial planner that understands the latest legislation

Pension legislation is subject to change and it is important that you choose a financial planner that understands the latest legislation.

 

A pension is a long-term investment.  The fund value (and income) may fluctuate and can go down.  The tax implications of pension withdrawals will be based on your individual circumstances, tax legislation and regulation which are subject to change in the future.