Retirement Planning

A big part of planning for your retirement is making sure you will have enough money to live on when you stop working.  Unless you know you will be provided with a guaranteed source of income sufficient for your needs, you must build up a pot of capital from which an income can be taken in retirement.  State provision is unlikely to be sufficient.

Pensions are not the only way in which this pot of capital can be accumulated; however they have been particularly popular primarily because of the tax privileges attaching to them.  These privileges include:

• Income tax relief on personal contributions,
• Corporation tax relief on company contributions (subject to certain conditions),
• Capital growth on funds invested is tax free.

Changes to regulations have aimed to simplify pensions and allow wider investment choice.

Self Invested Personal Pensions (SIPPs)

Innovation and competition in the SIPPmarket enables us to combine the valuable tax concessions available through pensions with our Wealth Management Service.

We believe that these factors mean that pensions continue to have a major part to play in most retirement planning scenarios.