Pensions and retirement planning
The world of pensions can be very daunting with the constant changes around legislation, the potential benefits you could receive and the different types of pensions available.

In planning for retirement there are many questions both before retirement, including what pensions have I got, when can I retire, am I saving enough and if not what needs to be done. At retirement these questions are often very similar but more immediate including what are the options for my pensions, how the latest government legislation will affect me and how can I take benefits tax efficiently.

Our aim at Haverfords is to help and guide you through the options surrounding pensions at the two important stages of pre-retirement pension planning and when you are at the point in your life where you are retiring, so that you can make informed choices about your future. We also believe this should not be looked at in isolation but rather as part of your overall financial planning strategy that may include property, ISA’s and other forms of investment, thereby ensuring you have confidence that you will not run out of funds in retirement.

Areas we can help with / benefit clients

  • Company pensions
    Including advice on the new government legislation around auto enrolment, existing company pension scheme reviews and
  • SIPPS
    These are very similar to a personal pension but with more investment flexibility and potential flexibility around how you eventually take the benefits
  • Annuities
    A type of plan where you exchange your pension fund for a regular taxable income for life. It is important to seek advice as one set up some types of annuity income are fixed and can’t be changed.
  • Personal Pensions
    Setting up new pension plans for retirement planning or reviewing your existing pension provision to ensure it is still on track to provide for your future needs.
  • Income drawdown
    Is where you leave the pension fund invested whilst taking an income from the fund so it has the potential to continue growing.
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