PENSION STRATEGY REPORTS

With so many changes in legislation coming along in the pensions arena, now might just be a good time to review your pension strategy. Firstly we have all the changes since Pensions A Day that are now effective and to this we can add the proposals for changes to public sector schemes such as the NHSPS and the USS.

For high earners and high flyers this could well mean ultimate pensions will not be as high as they are currently.

Ask yourself the following questions:

Do you have a clear idea of what your pension position is currently? It is not unusual for many of those we meet to be hazy on where they are with all their pension pots. If you have a number of personal pensions for example, do you know what their present values are; how well the funds are performing or under performing; whether they are overcharging by today’s standards. If for example you are in the NHSPS or USS or other occupational pension scheme what the present value of all your benefits are – pension, lump sum, children’s allowances, widow’s/widower’s allowances. Our Report will address all of these for you.

Where do you want to be in terms of pensions at retirement? A common aspiration is to want to be able to retire early, but do you know what your pension benefits are projected to be in the future? At say ages 55, 60 and 65? If retiring earlier rather than later the implications? Will you want to buy an annuity or take pension drawdown? Again, our Report will look at these aspects.

Do you know what the new pension rules will mean to you personally? Will you be advantaged or disadvantaged by any of the new rules? Will you be better off deferring retirement, or better bringing it forward if possible? These too can be addressed by our service.

Do you know if the limits introduced under Pension Simplification will threaten you with extra taxation on your pension funds? If a high flier with pension funds likely to be in excess of £1.5 million from all sources you need to look into whether the new rules could mean you might end up being taxed more heavily. Our Report will analyse all these issues for you.

Would you like a summary of what needs to be considered by you in the light of all the above – with action points to flag your way forward? This is potentially the most valuable part of our overall Report - all designed to ensure your are in good shape pensions wise, with all relevant issues covered. We then follow this up by offering you a face-to-face meeting with our local pensions consultant who can discuss further with you actions to be undertaken as appropriate.

The more complex your affairs are, the more valuable this will be to you.

Getting started on this is easy - simply call us or go to the Enquiry Form.