Have you considered what level of income will be necessary in retirement to replace your earned income now? How far on track are you to achieve this? Which investment routes offer the best chance of meeting your needs?
The point comes when many wish to continue life with an income, independent of whether they are working. Planning to accomplish this securely and in accordance with your wants forms a large part of the work I undertake. No-one can see into the future but I can assist you to plan prudently, respecting those factors which will, over the longer term, be more advantagous to achieving your goals and be useful to avoiding common pitfalls in this area. In respect of retirement I offer a service for both individuals and companies.
Individuals
Read moreIn this area it pays to devote attention to both the underlying investment as well as to the particular form of the pension. The nature of the investment will drive the returns and this is something you choose. Advantages gained in a contract should not be given up lightly. The changes to pension legislation framed by the Budget 2014 brought these perennial aspects of retirement planning to the fore once again.
Corporate
Read moreDirector/Shareholders
Whether for directors who wish to self-plan their own retirement or whether implementing the legislation to auto enrol workers, I am able to work with your existing retained professionals to take care of the necessary arrangements.
Many (owner) directors wish to retain fuller control over the monies which the company contributes to their retirement fund. This can include short term loan backs to the company or investment in property, plant and machinery, as well as self-directed investment opportunities. In this way, I may make pension legislation work to your best advantage without you having to give up flexibility.
Employers
By Finance Act 2008, the primary legislation was enacted whereby all employers need to automatically enrol the larger part of their workers (as defined by certain criteria) into a qualifying workplace pension scheme.
All employers starting in 2012 with the largest and ending in 2017 with the smallest are affected. The obligation to make contributions for eligible workers rests on both employer and employee as well as for those who are non-eligible. Entitled workers are expected to fund their plans on their own,
Compliance with the legislation is required to avoid large fines, although this is an area in which traditionally most employers have little if any experience. I will guide you through the legislation in a way which permits compliance, without needlessly getting involved with costly schemes.
For more information visit The Pensions Regulator.