The latest pension legislation has radically altered how individuals and employers are able to save for retirement and what options are available when it comes to taking benefits.

Whether your clients have large existing pension funds, are just starting out on the road to funding for their retirement, or are within a few years of taking their benefits, we can help.

We’ve designed a range of services for those who are still planning for retirement and for those who are ready to take their pension benefits.

Option 1: Retirement Income Service

This provides clients with an overview of all their total pension savings and the benefits which they can now begin to draw. This includes a review of the options of lifetime annuities, short term annuities, drawdown, and the use of the pension commencement lump sum, better known as tax-free cash.

The report will also highlight the benefit and drawbacks of each option, the implications to the client’s family and estate on death, and the risk associated with each of the new options available.

Option 2: The Pension Investment Service

Whilst investing a lump sum into pension immediately prior to retirement may seem a strange thing to do, this could be just the right step for many clients.

As well as gaining immediate tax-relief and having their investment grow in a tax advantaged fund, the client will also benefit from any death proceeds falling outside of their estate for IHT purposes.

This service assesses how much the client can invest. As independent advisers we will then review the whole market to find the right pension provider and funds for your clients.

Option 3: The Consolidation Service

Consolidating existing pension savings into one scheme just before retirement can:

  • Help a client gain a higher income
  • Provide access to a wider range of income options at retirement
  • Enable a wider range of ongoing investment funds to be available
  • Help the client to keep better track of their pension savings

However, to ensure the correct advice is given an in-depth analysis of their pensions, and the various options is needed.

The pension consolidation service provides a detailed report explaining the benefits and drawbacks of transferring some, or all of a client’s pensions, to the same place and how any move will affect how the client can take their retirement benefits.

We will also assist the client in completing all the necessary paperwork to affect any transfer and liaise with trustees to ensure the smooth transition of pension funds from the old scheme to the new.

Option 4: Appointment as Financial Planner

By being formally appointed as Financial Planner, we will be with the client every step of the way. We will provide them with regular planning meetings and an ongoing assessment of how their investments and pension plans continue to meet their needs.