As we all get older, financial planning for your retirement becomes an ever more important issue to consider. Sound advice can save you tens of thousands of pounds, so read our information below.
Whether retirement is round the corner or seems a million miles away - if you’ve arrived here then it’s on your mind.
The first thing to consider is what provision you already have. If that’s absolutely nothing, then don’t panic; any worthwhile journey starts with just one small step.
You can start saving from as little as £20 a month and the contracts available now are costed with the minimum of charges. These plans are also extremely flexible, so you can stop and start your contributions, increase and decrease your contributions based on what you can afford.
At the other end of the scale you may be affected by the forthcoming pension changes that negatively impact on senior civil servants, to be implemented in April 2011. A tax charge on double accrued pension of a senior police officer would see her or his net pay reduce by over 50%.
The government have yet to announce the findings of their consultation over this, but it just goes to show what a minefield the whole pensions arena can be.
Very few people these days work for one employer for their whole working life, so if you have accumulated a variety of pension plans then we can help you consolidate where you have reached and help you manage any future plans and contributions, whether by an employer or yourself.
Remember it’s never too late, but it’s also never too soon to make sure that retirement is spent on the beach in Mauritius rather than the beach at Skegness. Read our section on Retirement for more information.
Read about the how the new rules on withdrawing money from your personal pension affect you,
Stamp duty is being abolished in Scotland and is going to be replaced by a new land transaction tax. Find out what you need to know about this change.
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