Personal Retirement Planning

EFS-Images-PRPAre you ready to enjoy your pension, but unsure of all the options available.

Apart from anything else, buying an annuity is the biggest single purchase many of us will make. When you reach retirement, your pension fund may be the biggest asset you have. And, you will have to buy an annuity with this fund at some stage. This single purchase will affect the rest of your life, and unlike many other decisions, it is usually irreversible. So, buying the right annuity is all-important. It can make a big difference to the amount of money you have to spend.

An annuity provides a guaranteed income in return for a capital sum. The majority of annuities bought provide income for life. That is, once the annuity is set up, it will continue to pay you income for the rest of your life.

There are lots of annuity companies and lots of options available. In fact, the choice is growing all the time, with many companies competing for business. But, once you have bought, you cannot change your mind. So, it is all-important to get it right when you do buy.

Are you in good health? If not by shopping around you might be entitled to a larger pension due to your health.

Another pension that may be available to you is a Draw down pension. Although you still have to buy an annuity eventually, there are now products available which allow you to take income whilst continuing to invest your pension fund. They have advantages and disadvantages when compared to annuities, and advice is essential to ensure you get the right product.

We can provide you with a completely unbiased and independent service to help you make your decision in a more informed way. Making the wrong decisions can have serious implications for your future financial security so contact us to discuss your options open to you.

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Contact us: 01480 215 788.