Retirement Advice Service

Why retirement advice can make a difference

Getting advice on your retirement options can be crucial in aiming to meet any expectations you have about your income in retirement.

Starting pension planning can make a huge difference to the level of income you can expect when you retire. The types of pension plans available and the funds options to invest in are numerous.

Retirement Planning

There is a lot of value in fully considering your retirement options and investment strategy for pension savings.

Good financial planning is necessary to ensure that you enjoy an adequate retirement income to ensure that your pre-retirement living standards are not compromised.

If you have private pensions how your pension funds are invested will also be important, with regular reviews of your pension recommended to ensure you are on track to hit any targets for future earnings.

The underperformance of a pension fund may require increased contributions or a change in strategy, while pension legislation may also be a factor to consider.

Under current legislation, pension funds can grow tax-free and at retirement, you have the option of taking some of the cash tax-free. The balance of the fund can either be invested in a pension drawdown arrangement or in a traditional or investment annuity arrangement. Pension income is subject to tax at your personal tax rate.

There is no time like the present to start planning for retirement.

We work with trusted pension advisers to provide a personal financial planning service for people just like you, who use the Fair Investment site.  They have extensive experience in helping people plan for a stronger financial future.

  • There’s no pressure to act on their advice – You’ll have the time you need to decide if you want to act on their recommendations, and will only pay a fee if you do
  • You can speak to an adviser without even leaving your home – via an appointment over the phone or online
  • Free 15 minute initial appointment and you’ll only be charged if you decide to proceed with the recommendations provided

 

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Maintaining your living standards requires retirement income to keep in line with inflation so this needs to be factored into any planning exercise as the cost of living over a typical retirement of 20 years can be significant.

Building protection against retail price inflation is expensive and so it is worth doing a thorough review of expected living expenses in retirement.

Getting expert financial advice on your retirement options means you can get peace of mind about when you can afford to retire, what you can afford to spend and that your money will last.

Important Risk Information: This website contains information only and does not constitute advice or a personal recommendation in any way whatsoever. The value of investments and income from them can fall as well as rise and you may not get back the full amount invested. The tax efficiency of ISAs is based on current tax law and there is no guarantee that tax rules will stay the same in the future. Different types of investment carry different levels of risk and may not be suitable for all investors. Prior to making any decision to invest, you should ensure that you are familiar with the risks associated with a particular investment and should read the product literature. If you are in any doubt as to the suitability of a particular investment, both in respect of its objectives and its risk profile, you should seek independent financial advice. * Details of how the Financial Services Compensation Scheme applies to investment firms can be found at fscs.org.uk.