Pension Advice in Leeds

Providing advice for customers with pension enquiries

Some people find the idea of sorting out a pension can be slightly off-putting. Nevertheless, it is worth doing so as they can genuinely benefit you later when you approach the legal retirement age.

Over the years, you will likely have paid into one or more pension plans, be that personal or workplace. Many clients have little to no idea how much they’ll be worth when they retire!

Those pensions may no longer match your circumstances, this is something your advisor will be able to check for you. It is always worth looking into paying for advice, especially if you have pots totalling over £10,000.

Pension Health Check

Some employers who offer defined benefit schemes (final salary pension) may motivate members to transfer their benefits to a different provider. Once you have found a trustworthy pension advisor, you can build up that long relationship with them. They will then review your pensions regularly, ensuring you are on track to the income in retirement you were hoping to aim for.

Getting all your pensions with one provider 

The following could possibly be happening without your knowledge if you haven’t had your pension review in a while;

• The plans you have set in place are in funds that maybe could be performing better or the subject to expensive charges which will affect the total amount you’ll receive in retirement.
• For ease, often customers like the idea of having all their pension plans with one provider. Is easier to track this way.

Before considering a pension transfer, seek advice from an experienced and qualified pension advisor in Leeds who will make a personalised recommendation. 

At retirement advice 

If you are retired or approaching retirement, this is an excellent opportunity to seek professional advice.   

Pension drawdown (aka income drawdown) allows you to cash in a percentage of your pension tax-free when you’re over a certain age.  These rules do change, so it’s essential to seek advice to remain up to date.

Your pension provider may offer you an uncompetitive annuity when you come to draw your pension but again speaking to a qualified pension advisor will potentially open up more options for you and possibly increase your income in retirement, this can lead to a better and healthier retirement lifestyle.

If you would like some specialist advice in Leeds, please get in touch. we would love to point you in the right direction.

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