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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.
Popular tags: Pension sharing order, what is a pension sharing order, divorce and pension sharing, setting up a pension, pension planning, retirement planning, independent financial advisers
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.
Popular tags: individual pension plan, independent financial adviser, retirement planning, wealth management, ISA allowance, individual savings account, individual savings account uk, pension planning, ISA year end, pension allowance, year-end tax planning, year end tax, tax planning
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.
Popular tags: Retirement planning, retirement planning in the UK, wealth management, financial advisers, independent financial advisers UK, financial planning, financial planners, uncrystallised funds pension lump sum, ufpls
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.
Popular tags: Retirement planning, wealth management, financial advisers, independent financial advisers, financial advisers UK, retirement income strategy, annuities, annuities in the uk, annuity rates in the uk, annuities and tax, income drawdown, legacy planning
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.
Popular tags: National insurance contributions, national insurance rates, ni contributions, national insurance contribution for self employed, rate of ni contributions, retirement planning, pension planning, financial planning, independent financial advisers
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.
Popular tags: Carry forward allowance, pension planning, retirement planning, pension advice, independent pension advice, independent financial advisers, tapered annual allowance, money purchase annual allowance
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.
Popular tags: Equity release, equity release how does it work, equity release schemes, lifetime mortgage, home reversion, retirement planning, independent financial adviser
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.
Popular tags: Group personal pension, group personal pensions, defined contribution pension scheme, defined contribution pension, stakeholder pension, retirement planning, pension planning, independent financial adviser
Without proper guidance, retirees risk either withdrawing too much too early—leaving themselves short of funds—or being overly cautious and not enjoying the lifestyle they worked so hard to afford. Pension advisers offer professional insight to strike the right balance.
Popular tags: Retirement planning, independent financial adviser, pension adviser, pension planning, independent pension advice, pension draw down, pension consolidation, pension contributions
One attractive feature for many retirees is the option to withdraw a portion of their pension as a tax-free lump sum. This provides the flexibility to access up to 25% of your pension pot without facing tax liabilities.
Popular tags: Tax free pension lump sum, pensions and tax free lump sum, tax free lump sums from pensions, maximum tax free pension lump sum, tax free cash from pension, tax free cash withdrawal, pension planning, retirement planning, independent financial advisers
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Note: This page is for information purposes only and should not be considered as financial advice. Always consult an Independent Financial Adviser for personalised financial advice tailored to your individual circumstances.