One third of people aged 55 – 64 in the UK have made no provision about getting an extra pension above the one provided by the state.
When reviewing your finances, there are questions you should be asking:-
If you haven’t started saving for retirement you should start today, no matter how young you are. If you are already saving for retirement it is important that you keep track of your progress to make sure you are on track for the retirement income you are looking for.
Starting a pension plan and setting up a direct debit isn’t retirement planning, although it’s better than doing nothing at all. At Manson Financial Services we take a different approach. We will talk to you about the retirement you want, whether that is travelling the world, playing golf or simply relaxing in your back garden. We will discuss the income you will need to fund the retirement you want. Then we will work out what you need to do now to produce the income you need when you retire. This is real retirement planning. We will keep reviewing those plans with you so you stay on track.
So, if you have put off retirement planning for too long or you want to review your existing plans contact us now.
There are three major types of pensions, a state retirement pension, an occupational pension and a personal pension.
Most people receive a state pension. Approximately 60% of workers are in line for an occupational pension. Anyone including the self-employed and employees whether or not they belong to a company scheme can set up a personal pension subject to Inland Revenue & Customs limits.
To find out more about our Pensions advice or to arrange to talk to one of our advisors, please click here.