Are you thinking of Retiring?
Having spent years building up your pension savings pot, it’s important that you get the most from it. We can help you compare the benefits of the multiple options now available to you and your family.
Essential Retirement Planning
Pension freedom as it being called has provided pension fund holders with far greater flexibility and access than ever. Of course, it is your responsibility to ensure that your largest retirement asset in used correctly and most importantly wisely.
Pension monies can be converted to cash at retirement in part or in full (it is essential that your tax position is checked before making any decision to take all of your fund as cash!), can provide flexible levels of ongoing income or be passed down to your spouse, children or grandchildren as a legacy asset. With these options, it is essential that you seek professional advice to help guide and advice you through the range of choices available.
Guaranteed Income versus Flexible Income
The options now available to people at retirement is considerably wider and more flexible than ever before and people can access their retirement savings between ages 55 and 75. Generally pension monies can be converted into either guaranteed incomes for life or alternatively retained to provide a more flexible income.
Most clients who elect to take a Flexi-Access drawdown option will benefit from the use of an investment portfolio and your advisor will help you understand your own attitude to risk and capacity for loss before recommending a portfolio that is suited to your specific needs.
A multi-generational inheritance tax planning asset
People who decide to take a flexible income option, can pass their pension funds on death, to their spouse, children or even grandchildren. The pension funds that were once seen as a retirement planning tool are now an asset that generations of the family could enjoy free of any inheritance tax.
CBK Wales advisors have extensive experience in helping our clients with their retirement planning, we help our clients in building their pensions and how to best benefit from their pension funds. We are of the belief that having confidence in your pension arrangements will allow you peace of mind to enjoy life to the full.
The value of investments and income from them can go down. You may not get back the original amount invested.
Past performance is not a reliable indicator of future performance.”