Pension Switching

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FSA

Pensions Advice

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... from a Chartered Financial Planner. Below are a selection of questions and answers as examples of how we may help.

Q: I have several pension arrangements. Is it possible to consolidate these into one?
A: It may be possible but is not necessarily in your best interests. To establish your best position, we will analyse each plan and tell you of the advantages (if any) of keeping each one.

Q: I am past my 55th birthday, can I take benefits from my pensions?
A: Yes. You are able to take 25% of the fund value as a tax free (pension commencement) lump sum. The balance is fully taxable at your marginal rate of income tax. Consequently, tax planning is more important than ever to optimise your pension benefits.

Q: I am unsure how my finances will operate on a much-reduced income post retirement?
A: We can provide a budget for your outgoings from the likely pension income available to you.

Q: My employer is winding up the company pension scheme. What shall I do?
A: We can provide advice on the benefits earned under the scheme to date and compare this with what might be available by transferring your benefits to another pension plan.

Q: I am considering buying a commercial property. Can I do this via a pension fund?
A: We will analyse your current position, provide a detailed explanation on how you may purchase a property in a pension fund and compare this to buying it personally and (if appropriate) within a company.

Q: I am approaching age 75. Must I buy an annuity with my pension fund?
A: It is no longer compulsory. However, an annuity might suit you best. We will compare the options and recommend that best suited to your circumstances.

Q: I am going through a divorce and have been offered part of my spouse´s pension fund within the settlement. I am unsure whether this is fair?
A: We will convert the offered fund to benefits in a format that you can understand.
 

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