Pension & Retirement Planning
The value of pensions and investments and the income they produce can fall as well as rise. You may get back less than you invested.
The tax treatment of this product will depend on your particular circumstances and should be discussed with your adviser. Tax treatment varies according to individual circumstances and is subject to change.
How to Use Your Pension Pot Wisely
So you have done the right thing and saved for when you retire.
But now what?
Maybe you have several pension pots? What about old employer’s pension schemes? How does your state pension fit into your plans? Do you have a plan?
You now have more choices than ever when you retire, but there’s no point in having those choices if you don’t make the right decisions. After all, you don’t want to run out of money.
The Government announced “Pension Freedom” changes in April 2015 represented the most radical changes to private pensions legislation for a generation.
The pension freedoms represented a complete shake-up of the UK’s pensions system, giving people much more control over their pension savings than before.
The political spin is it was for ‘freedom and choice in pensions’. This sounds like an unmitigated plus.
These freedoms mean that there are many more options and for those who know what they’re doing it’s great… but it also means it’s easier to make a mistake.
