Why do I need a Pension?
As we grow older, it becomes increasingly important to have a plan in place for our financial future. This is where a pension comes in. A pension is a form of retirement savings that provides a steady income stream once we're no longer working. While it may seem far off, retirement will arrive before we know it, and having a pension can lead to financial security and peace of mind. With a pension, we can rest easy knowing that we'll have a stable source of income in our golden years, without having to rely solely on government benefits or personal savings. At its core, a pension is an investment in our future selves and a way to ensure we can enjoy our retirement years to the fullest.
Protect yourself with our Pensions and Retirement Planning
Illingworths Financial Services provides specialist and independent retirement advice to private individuals. Our experience means we are able to provide the important advice you need to plan a financially secure retirement. We will discuss your objectives with you and recommend a solution from a leading provider that is tailored to meet your needs. This maybe a new arrangement, or simply a review of your existing pension plans.
A pension is an excellent option for you to secure an income when you stop working and reach retirement age. There are many reasons why a pension may be suitable for you and one of our experienced advisers would be happy to discuss your retirement plans with you.
Significant changes to Pension Rules have taken place and we are fully conversant with these. You may benefit from a financial review of your existing arrangements to ensure they are suitable for you now that these changes have taken effect.
It is also important to understand that the choice of investments for your pension fund is crucial to the performance and ultimately affects what you get back at retirement. When benefits are to be taken there is a variety of choices. For example, you are no longer forced to draw a set income at retirement. This therefore provides considerable scope to plan more effectively when thinking about Inheritance Tax as deferral of Income Tax.
The value of your investment can go down as well as up and you may get back less than you have invested. The Financial Conduct Authority does not regulate taxation and trust advice.
Workplace Pensions
The law on workplace pensions has changed. Until now, it’s been up to workers to decide whether they want to join their employer’s Pension Scheme. By 2018 every employer with at least one member of staff now has new duties, including putting those who meet certain criteria into a workplace pension scheme and contributing towards it. This is called automatic enrolment.
The pension reform is geared to motivate the working population into saving towards their retirement. The new legislation is not optional, The Pensions Regulator (TPR) will ensure all employers comply.
We offer a range of workplace pension schemes which are simple to set up and will meet your duties as an employer. Please contact a member of the Financial Services team for more information.
We charge a fee for financial advice. Our fees are in the Financial Services Client Agreement and Financial Services Keyfacts documents for which there is a link at the bottom of the page. To discuss your individual requirements or what fees will apply to your personal circumstances, please contact us to arrange a free of charge consultation.
Protect yourself
and your family's future
