Pensions

Saving for Retirement

Most people just don’t save enough to achieve the level of retirement income they need. Your Sandringham adviser will help you decide how much extra money you need to save, and where to invest it.

Pension consolidation

It is likely that you have a number of active and/or dormant pension plans already. Your Sandringham adviser can help you make sense of these plans and determine if the funds are delivering on your expectations. Your adviser may also be able to save you money by arranging for your pensions pots to be put into one easy-to-manage, lower cost solution.

Providing an income in retirement

Recent changes in pension legislation mean you have a wider range of options for an income in retirement, which is good news when it comes to financial planning.

If you’d prefer to receive a regular income for life after your stated retired age, then using your pension fund to purchase an annuity could be right for you. Alternatively, you could decide to keep your pension invested and take a regular income from your pot as and when you need it – this is called income drawdown.

 New rules called Pension Freedoms now mean that people over 55 years of age can now access the money in their pension fund all at once – the first 25% as tax-free cash, the remaining 75% liable to tax at your marginal rate. Your Sandringham adviser will help you develop the most tax-efficient option to maximise your financial security in retirement.

Knowledge and expertise

Because pensions are much more complex than we’re able to explain here, it’s important to get professional advice. At Sandringham, we use our collective skills and expertise to stay up-to-date with current retirement thinking, changing legislation and new pension products to ensure you receive only the highest quality advice.

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