If you would like to have more control over your own pension fund and be able to make investment decisions yourself with the option of our professional help, a Self-Invested Personal Pension (SIPP) could be the retirement planning solution to discuss.
Remove the cap on the retirement income you can take
Pension legislation is always on the move and keeping up to date with the latest changes could open up new opportunities for you in retirement. On 6 April 2011, the government announced that you no longer have to take pension benefits by the age of 75.
In his Autumn Statement, on 29 November 2011, the Chancellor of the Exchequer, George Osborne announced that the State Pension age will now increase to 67 between 2026 and 2028. The government said it took this decision because of increasing life expectancy, to help manage the cost of State Pensions. If you were born in the 1960s, find out how you could be affected.
Providing retirement benefits based on the accumulation of a ‘pot’ of money
A personal pension plan is a type of defined contribution arrangement. This scheme provides retirement benefits based on the accumulation of a ‘pot’ of money, accumulated through the investment of contributions paid by both the employee and the employer. It is essentially an investment policy that provides an income in retirement. It is available to any UK resident who is under 75 years of age.
The sooner you start saving for your retirement
the more secure your future will be
Saving for your retirement may not seem important when you’re starting out. But the sooner you start saving for your retirement the more secure your future will be.