Pensions and retirement planning

What we help with

Pension rules have changed considerably over the last decade, and the choices available at retirement are wider — and less reversible — than most people expect. Our role is to set out what applies to your circumstances and help you weigh it up.

• Reviewing existing workplace and personal pensions, including older schemes you may have lost track of
• Whether consolidating pensions into one plan is sensible in your case, or whether it would cost you valuable guarantees
• Pension drawdown — taking an income while remaining invested
• Annuities, and using the Open Market Option to shop around rather than accepting your provider's default
• How and when to take tax-free cash
• Pension sharing orders and pension credit on divorce

The Open Market Option

If you are buying an annuity, you are not obliged to buy it from the provider who holds your pension. The Open Market Option lets you take your pot elsewhere, and the difference in income between the best and worst rates can be substantial over a retirement. Health conditions and lifestyle factors may also qualify you for an enhanced rate. We search the market on your behalf.

When to get advice

Earlier is generally better. Once an annuity is purchased it usually cannot be undone, and some decisions around drawdown affect how much you can contribute in future. Coming to us a year or two before you plan to retire leaves the most options open.

Ongoing reviews

Retirement planning does not end at retirement. If you are in drawdown, your fund remains invested and needs monitoring — which is why we review every client's portfolio every three months rather than once a year.

Pension and tax rules change, and their effect depends on your individual circumstances. The value of investments can fall as well as rise and you may get back less than you invested. This page is general information, not personal advice.