RETIREMENT PLANNING

Do you know when you can retire?

Life expectancy is increasing, which means you should start preparing for your retirement earlier to help provide you with a sufficient income when you retire

The retirement landscape is constantly changing and there are numerous options available to you when deciding on your retirement, so it can be hard to know what the most appropriate solution is. Whether you are approaching retirement, are planning for your future or want to set up or review existing retirement planning strategies, our experienced advisers can help you calculate how big your retirement fund needs to be and work with you to help achieve this.

Decisions made when planning for retirement are important as they may be irrevocable and could define how you live for the rest of your life

How and when you take tax-free lump sums and the tax implications of doing so, if an annuity is right for you and possible drawdown options are just some of the many areas of retirement planning that we can advise you on.

Working with a carefully selected panel of providers through St. James’s Place, we offer the following range of products on retirement:

• Retirement account

• Self-invested personal pension (SIPPs)

• Drawdown plans

• Annuities

• Trustee schemes

Your Four Wealth Management adviser will guide you through all the options to help you make the right decisions with regards to your financial planning, so that you can have peace of mind and make the most of your retirement.

The value of an investment with St. James’s Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up. You may get back less than invested. 

The levels and bases of taxation and reliefs from taxation can change at any time. The value of any tax relief depends on individual circumstances.

Decisions made when planning for retirement are important as they may be irrevocable and could define how you live for the rest of your life

How and when you take tax-free lump sums and the tax implications of doing so, if an annuity is right for you and possible drawdown options are just some of the many areas of retirement planning that we can advise you on.

Working with a carefully selected panel of providers through St. James’s Place, we offer the following range of products on retirement:

  • Retirement account
  • Self-invested personal pension (SIPPs)
  • Drawdown plans
  • Annuities
  • Trustee schemes

Your Four Wealth Management adviser will guide you through all the options to help you make the right decisions with regards to your financial planning, so that you can have peace of mind and make the most of your retirement.

If you are on the average UK salary, you will need over £300,000 in your pension to maintain your lifestyle*

Frequently asked questions

The earlier you start planning for retirement, the more money you could potentially have for the future. Review your income and finances, and if you can afford to put aside money into a pension scheme, consider starting the process as soon as possible.

The current full State Pension is £168.60 per week (2019/20 tax year). However, the amount you receive depends on your National Insurance record.

The amount that you need to retire comfortably depends on your individual circumstances. Your Financial Adviser will work with you to determine how much you need in your pension pot to maintain your current lifestyle.

No. When you retire, your employer and pension provider will tell HMRC.

You can normally take a cash lump sum of up to 25% of the value of your pension fund tax-free.

                                        *Aegon, £300,000 pension pot required to maintain lifestyle, 3rd January 2018