Retirement & Pensions

We all plan our retirement in our heads, thinking about how we will spend our time when we no longer have to go to work, but few plan for their finances or pensions in later life.

In fact, the majority of people retire on less income than they would like or thought they would have. It is vital to seek retirement and pension planning advice from a financial Adviser as early as possible. The earlier you begin planning your retirement and pension, the longer you will have to ensure you have the income you desire and make up for any shortcomings.

Our team of financial Advisers in Northwich can advise you on all aspects of retirement and pension planning so you can have the retirement you have dreamed of.

Retirement planning advice

There are many factors to consider when planning your retirement and pension, such as:

• Which pension you have – many people have more than one workplace pension so it is important you know exactly how many you have.
• How much retirement income you think you will need.
• The amount of tax you’ll be liable for.
• Your health and how long you expect to live.
• Inflation risk and how it may impact your pension fund.
• Any inheritance you may receive.
• Your sources of income.
• Pension pot options.

You must also consider the different methods of taking income in retirement, by this we mean a secure income or a flexible income. A secure income includes your state pension, defined benefit pension or income from a lifetime annuity.

Types of flexible income include income from a drawdown scheme, where your pot remains invested and you can opt to draw an income from it, and income from savings and investments.

Pension planning advice

Our authorised financial Advisers can help you devise and implement a pension plan that helps you secure the financial income you want for your retirement. We can help with pre-retirement / investment by providing suitable tax efficient saving strategies that help you build up the pension pot you require. Our advice always takes affordability and your attitude to risk into consideration.

We can also advise on the retirement / disinvestment options available to you to help you decide on the best strategy for your personal circumstances. During this phase we consider inflation, taxation, attitude to risk, health and any requirement for dependant benefits.

Our advice also includes cash flow forecasting to determine whether you have sufficient capital to last through retirement and whether you could receive an income from your pension fund whilst continuing to work.

Will divorce affect my pension?

Going through a divorce is a stressful time, and the uncertainty of how it will affect your future finances and pension pot further adds to an already difficult situation. But with the right financial planning advice, you can make things simpler and fair for both parties.

Here at CRS, we can help you by:

• Analysing the information provided by both parties.
• Assisting you with gathering further information to prepare your report and liaise with legal representatives as required.
• Preparing a detailed report, utilising actuarial input where necessary, to help you consider the options available.
• Making recommendations on suitable financial arrangements regarding pensions, investments and protection.
• Implementing any financial order such as pension sharing or attachment orders.

Looking for retirement & pension advice in Cheshire?

If you would like retirement and pension advice, please get in touch via our enquiry form and a member of our team will be in contact to discuss your requirements and the best options for your circumstances.