The individual pensions market is an ever-changing world, especially with the introduction of the pensions freedom legislation, and it can be difficult to keep track of what options are available with regards to your retirement planning.
HB&O Financial Services work with you to consider all the options based on your needs and risk appetite. As part of the financial planning process, it is our job to blend the savings vehicles that will yield the most efficient income in retirement.
Planning for your retirement is possibly the most important financial decision you will ever make. With life expectancy increasing year on year, we are now seeing the potential to spend almost as many years enjoying retirement as we have spent saving for it. Planning for it correctly will provide you with the standard of living you wish after you stop work.
Forward planning for your retirement can mean having the reassurance of financial security in later years, rather than the worry of wondering how you will cope. A comfortable lifestyle in retirement is something to which we all aspire, and increasing longevity means that we all need to make extra provision for that retirement.
A pension is a long-term investment. The fund value may fluctuate and can go down, which could have an impact on the level of pension benefits available.
Your pension could be affected by interest rates at the time you take your benefits. The tax implications of pension withdrawals will be based on your individual circumstances, tax legislation and regulation, which are subject to change in the future.