Retirement Options

This is now a very complex area of financial planning. When you decide to take your pension benefits there are rules regarding the way they can be taken.  However, there is now a wide choice of pension “products” - the following is a list of questions that you should consider before you should make a decision: -

➢   Is a simple conventional annuity best for you, have you shopped around for the best deal

➢   What about enhanced annuity or an investment-based annuity

➢   What about unsecured pension rather than an annuity

➢   What about phasing your pension benefits

➢   What do you want in the event of your death

➢   What about tax planning considerations

➢   How much Tax Free Cash is available, can you improve the amount if you transfer benefits

➢   Do you have any guarantees in your current pensions that would be lost if you transfer benefits

Some products may not be suitable due to factors such as investment risk, charges, or product complexity; or they may not be available (as some products require minimum amounts of money). You might not qualify for some products (such as an impaired life annuity, unless you are in ill health). 

What the above highlights is the need for quality independent financial advice; Sovereign Asset Management can help you

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