Ipswich Financial Adviser

Archive for the ‘Pensions’ Category

An important factor to consider when organising a personal pension or having a pension supplied by your employer, is to think about who do you want to receive the pension benefits should something happen to you and you are not about to claim the pension yourself?

You should nominate one or more beneficiaries, so if you die prematurely, the pension fund manager will get money to the people you want in a quick and orderly manor. The last thing you want is for your beneficiary to wait along time to get the money they are entitled to.

All pension providers will have forms to nominate who you want your beneficiaries to be. Once completed and lodged with the pension provider, this provides the pension trustees with where you want your pension monies to go. When you do this, also make sure your will is up to date so that everything ties together and your affairs are in order.

This is a simple task that can save your beneficiaries many issues and delays should the worse happen.

If you require any help or advice with regards to your pension, then please feel free to contact Thompson Financial Consulting and we will be happy to help.

At present, if you reach your 50th birthday then you can potentially take up to 25% of your personal pension fund as a tax free lump sum. Unfortunately, from the 6th April 2010, the age to be able to do this changes to 55. There is NO transitional period, the change just comes in.

If you have always considered taking your tax free cash and you are not 55 on the 6th April 2010 then you will have to wait until you are. This could potentailly mean a wait of up to 5 years; as if you reach your 50th birthday just before the 6th April 2010 and don’t action a request for a tax free cash withdrawal then you will have to wait 5 years until your reach 55. This could affect your retirement plans.

If you feel this issue will affect you then you need to start planning now. Contact Thompson Financial Consulting Ltd and we will be happy to help.

The value of investments and the income from them can go down as well as up and an investor may not get back the amount invested. Past performance is not a guide to future performance.

Yearly statements are sent by pension providers to show how much you have in your pension, what this may be worth in the future and how much income this could generate in your retirement. Do you take the time to review this and ensure that the pension is on track to provide you with the benefits you need in retirement?

If your pension is not on track to provide the benefits you thought you were getting, then the pension policy can be switched or transferred to a better product to help achieve better performance. In return this will potentially give you a greater fund value and more income in retirement.

Dust of those statements and DON’T just accept what your pension provider achieves. Get professional help to see if you can improve your future retirement income. Its easy to do, just visit Thompson Financial Consulting and contact us for help.

The value of investments and the income from them can go down as well as up and an investor may not get back the amount invested. Past performance is not a guide to future performance.

There has been a lot in the press about the increase in the state pension age since the political parties had their conferences.

However, the government has already increased the state pension age for many millions of people. Do you know when you’ll receive the state pension? This benefit is very important as it makes up a large proportion of the income that many people receive in their retirement.

Check out the link below to the Direct Gov website, where it will let you know your current state pension retirement age. http://pensions.direct.gov.uk/en/state-pension-age-calculator/home.asp

Remember that it is always vital to start your retirement planning early and NOT leave it to your later years.

Please feel free to contact me at Thompson Financial Consulting Ltd if you require any help or advice with your pension planning.

Have you always thought you would retire early, before your state retirement age? Well if you have always dreamed of doing this you need to make sure you have done your maths.

With the rapidly changing pension landscape, this is effecting the age at which we will all be able to retire. Many changes are having an effect, including; final salary pension schemes being suspended and stopped, pension fund values being affected by the economic down turn and the government raising the state pension age over time.

With all these changes, plus many others, you need to ensure you are fully aware of your pension entitlement and what it may be worth in the future.  This way you can plan in the knowledge of when you might be able to retire.

As I say to all clients, be realistic, you may want to retire at 55, but do you have enough money “in the pot” to achieve this. Please contact me  at Thompson Financial Consulting if you need any help or advice with your pension planning.

The value of investments and the income from them can go down as well as up and an investor may not get back the amount invested. Past performance is not a guide to future performance.

I have been helping one of my clients that has reached her retirement age and she wants to take an income from her pension. By getting the best retirement product for her, her income has increased by a hugh 12%per year

When you approach your retirement age and want an income from your personal pensions, you buy an “Annuity” with the pension money and the “Annuity” pays you a regular  income. ALWAYS, shop around for the best annuity rates and DON’T just accept what your current pension provider offers. If you do, you are likely to be throwing money away!

If you are of an age that you are considering taking a pension income, let Thompson  Financial Consulting help you get the  income that you deserve.