Continuum Wealth

Setting up a pension after a pension sharing order is not just about moving money; it’s an opportunity to reassess your long-term goals, align your investments, and establish a secure foundation for the future. Taking swift, informed action not only safeguards your financial independence but also sets the stage for effective retirement planning.

Tax planning isn’t just about ticking off allowances; it’s a critical component of both wealth management and retirement planning. By using tools like the pension allowance, ISA allowance, and capital gains tax allowance, individuals can make their wealth work more efficiently and protect it from excessive taxation.

Incorporating UFPLS into a retirement planning strategy can be beneficial for those who value control and tax efficiency. By managing withdrawals carefully, retirees can maximise the tax-free allowances available to them, ensuring a flexible income stream that aligns with both their financial and lifestyle goals.

In the UK, annuities offer a range of options that can align with different retirement income needs, each carrying its own advantages and considerations. Choosing the right type of annuity can provide a secure foundation for retirement, helping to manage longevity risk and offer stability in the face of economic fluctuations.

National Insurance contributions (NICs) are payments made by employees, employers, and the self-employed to fund the UK’s social security and welfare systems. These contributions help finance the state pension, certain unemployment benefits, and other entitlements, ensuring that individuals have a baseline of financial security.

Not only does carry forward enable you to boost your contributions, but it also allows you to benefit from tax relief on those contributions—something that can make a substantial difference for higher earners.

Beyond the immediate division of property, assets, and savings, one of the most significant concerns during a divorce is the impact on long-term financial security—particularly with regard to pensions.

As you approach retirement, it's crucial to consider the most effective ways to fund your golden years. Two common strategies are equity release and downsizing. Both have their merits and can significantly impact your retirement lifestyle. 

A purchased life annuity in the UK is a financial product designed to convert a lump sum into a guaranteed, regular income for the remainder of the annuitant's life. This type of annuity is often purchased with savings or proceeds from investments and is separate from pension annuities.

A Group Personal Pension is a type of defined contribution pension scheme provided by employers to help employees save for retirement. It operates similarly to individual personal pensions but is arranged collectively by an employer for their workforce.