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RETIREMENT PLANNING
There are three main phases in planning for retirement. At St Joseph’s we will
work with you through all phases of your retirement, planning, reviewing your
arrangements whenever your circumstances change, to ensure that you achieve
the comfortable retirement that which you deserve.
1. Pre-retirement: ensuring you have sufficient
funds for a comfortable retirement in the most
tax efficient way. This also involves making your
assets grow effectively and this could be by
looking at where it is invested, especially if you
hold older, smaller pension arrangements.
2. At retirement planning: reviewing the options
available to you and help you to plan the most
appropriate and tax effective solutions to meet
your objectives.
3. Post retirement planning: helping you to plan whether to delay taking pension
benefits and optimizing the phasing of the benefits to meet your specific income
requirements.
Are you prepared for the new pension changes?
Towards the end of 2010, the government announced a number of important
changes that will affect how
much you can invest or build
up in your pension without
having to pay a tax charge.
In addition, there will also be
changes to the rules for
converting pension funds into
income that will give you
greater flexibility and control
when you come to retire. The tax payable on your pension fund on death in some
circumstances will also be changing.
Summary
The impact of the forthcoming pension changes will affect some people more than
others. Whether you are a long way away from retiring, approaching retirement or
have already retired it is important to check if you are making the most of your
pension savings in a tax efficient manner.
We have a dedicated team of Pensions Specialists, who can assist and help you
understand what it all mean for you and how you can make the most of the
proposed pension changes by acting now.
If you would like to talk to one of our specialists to discuss this further, please
speak to your Private Banker in the first instance.