Pensions & Retirement

Where are you now?

Explore each stage below to see where you are in your retirement journey and how we can help you plan out your future…

Some way off…

You are likely to be over 50 and/or have between 10 – 15 years still to go until your selected retirement date (SRD) or the age when you can draw your state pension.

You may need help to think through:

• the age you may want to retire at

• working out how much income you might need to live a comfortable life or the life you want in retirement

• understanding the amount of savings required to create the income you want or need

• building confidence ensuring your money will not run out before you die

• reviewing existing retirement plans and identifying any savings gaps

• understanding the different options open to you regarding your retirement

• maximising your savings and taking full advantage of your own tax allowances

• protecting or de-risking the investments you have built up

Nearly there…

You have around 5 years until your selected retirement date (SRD) and are much more interested in your retirement options.

You may need help to think through:

• maximising contributions to your pension ensuring you don’t exceed your annual or life time allowances

• modelling different income requirements in retirement so you can take your income in the most tax efficient way as well as building in some flexibility in the amount of income you take from your pension pot

• maximising death benefits for you and your spouse, partner or family

• utilising all tax allowances available to you

• increasing your confidence that your money will not run out during retirement

• factoring in any special spends for holidays or another car etc

Choices and decisions…

You are now in the process of retiring. You are less likely than in the past to stop working at a set date. You may go part-time and take some income from your pension pot; stop working completely and draw your income from your pension pot or you might leave your pension pot intact and continue longer through choice or need.

You may need help to think through:

• whether to take some tax free cash or not

• the implications of part time work or keeping working

• starting to take income from your pension pot tax efficiently

• building in flexibility around future income levels

• maximising death benefits and provision for ill-health

• ensuring your money will not run out

• minimising the risk of your investments

• maximising tax efficiency around passing wealth to the next generation

• making provision for later life

Greater freedom…

You are probably fully retired now and receiving your state pension as well as generating income from your pension savings.

You may need help to think through:

• keeping the plan fit for purpose applying any flexibility you need around your income needs

• incorporating your state pension

• drawing income from your pension pot tax efficiently

• ensuring your money doesn’t run out throughout retirement

• planning for any future expenditure

• thinking about when to delegate financial control

• planning funeral expenses

• making plans to pass on wealth tax efficiently


Now you may be slowing down for a variety of different reasons from health issues to having done all the things you wanted to do. You may be spending more time at home and have less need for income.

You may need help to think through:

• reviewing your income and ensuring it still won’t run out

• drawing your income tax efficiently from your remaining pension pot

• finalising any estate planning to ensure it is tax efficient

• making allowance for potential care costs

• planning for later life by thinking about who you might delegate financial decision making to on your behalf

Later life…

You may have more health issues; be more dependent on others and may have more need for advice if you are feeling less confident about making decisions about your finances.

You may need help to think through:

• ensuring any increased income needs can be met from your savings

• finalising and implementing any planning choices around care

• seeing the positive impact of legacy and estate planning by passing wealth on to your family if appropriate

• potentially releasing further income from your home to fund care costs

Want to find out how we can help you?

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