The Fiducia Guide to Retirement Planning

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "The Fiducia Guide to Retirement Planning"

Transcription

1 The Fiducia Guide to Retirement Planning September 2012 Fiducia Wealth Management Limited Dedham Hall Business Centre, Brook Street Colchester, Essex, CO7 6AD Fiducia Wealth Management Limited is authorised and regulated by the Financial Conduct Authority.

2 Contents Introduction... 3 Annuity Purchase... 5 How it works... 5 Types of Annuity... 6 Options to Consider... 7 What happens when I die?... 7 What about the effects of inflation?... 7 I suffer from ill health, will this affect my income?... 8 I have more than one pension fund, what should I do?... 8 Alternative Annuities... 9 With-Profits Annuities... 9 Unit-linked Annuities Income Drawdown How it works Capped Drawdown Flexible Drawdown Options to Consider What happens when I die? What about the effects of inflation? I suffer from ill health, will this affect my income? I have more than one pension fund, what should I do? Scheme Pension Phased Retirement Trivial Commutation Savings & Investments Equity Release Summary

3 Introduction Having worked hard to accumulate wealth during your working life, you will want to make sure those funds support you and your family in retirement. A financially robust strategy is fundamental and has to be tested in terms of meeting the cost of your retirement lifestyle to ensure it is sustainable. Under HMRC rules you are able to start drawing pension benefits from age 55 i, however, whether you can afford to retire will depend on your resources and desired lifestyle. The question isn t at what age I want to retire, it s at what income. George Foreman When pension benefits are taken they will be assessed against the Lifetime Allowance which currently stands at 1.5 million. Any benefits in excess of the Allowance will be subject to additional tax of 55% if taken as a lump sum or 25% if taken as income. For those approaching retirement it is therefore essential to review your pension arrangements to ensure the Lifetime Allowance is not exceeded. Although pensions will often form the backbone of a retirement strategy, other forms of savings and investments such as ISAs, Bonds, National Savings & Investments and Cash deposits can add valuable additional resources that should be included in your overall financial plan. You may also consider downsizing your principal residence or using equity release in order to unlock some of the value of your home. You are able to draw tax free cash from your pension arrangements, usually up to 25% of the fund value for personal pensions and money purchase occupational schemes, although some older schemes may benefit from transitional rules which could allow a greater level of tax free cash. For those with final salary (defined benefit) occupational pensions, you may have the opportunity to exchange some income for additional tax free cash. In all cases, unless the monies are earmarked for another purpose, such as paying off debt, the tax free cash you receive should be included in your retirement planning strategy. Assessing income against expenditure is a complex task and the use of cash flow modelling is invaluable in projecting future outcomes. It takes account of regular and one off expenditure against expected income over a period to age 100 or beyond, giving peace of mind that the strategy put in place is sustainable. 3

4 Reaching retirement is one of life s major milestones, a time that can be eagerly awaited or dreaded, perhaps in equal proportion. The right decisions taken at this important time can lead to peace of mind and a comfortable and secure retirement. Our guide is intended to outline the key options and considerations for those approaching or already in retirement. It is not exhaustive and cannot replace the value of personal professional advice, however, we hope it will help you understand the complex world of retirement planning and the surrounding issues. 4

5 Annuity Purchase When we think about retirement income, our first thought tends to be annuity and at one time that was the only solution. While an annuity provides a secure income, usually for life, and is seen as one of the least complex financial products, there are a number of options that have to be carefully considered. How it works Quite simply the capital value of your pension fund(s) after tax free cash has been taken is used to purchase a secure income, most commonly for the remainder of your life. In 2010 over 430,000 annuities were purchased in the UK with premiums of some 11 billion Annuities are only provided by life insurance companies. The annuity rates take into account that some people will live longer than others. Those who live longer than average will take more annuity income than someone who dies earlier, who in effect subsidises those who live longer. Annuity rates have deteriorated because life expectancy is rising and so people are living longer. The amount of income an annuity will pay will also depend on other factors, such as: the value of your pension fund when you retire; the amount of tax-free lump sum you take; your health; your age; your sex (although this will change from December 2012 when male and female rates will be equalised); the terms of the annuity you choose, such as whether it is for you only or for you and your partner. The older you are when you buy an annuity the higher the income you will receive from the start because the older you are life expectancy is shorter. You can usually choose to have your income paid every month, every three months, every six months or once a year. 5

6 Types of Annuity Lifetime A Lifetime Annuity will pay an income for the remainder of your life and is the most common form of annuity. This provides peace of mind and there is no future review as the terms cannot be changed once it is set up. However, a Lifetime Annuity lacks flexibility and could result in a charge for benefits that are not used; for example, if you include a spouse s pension (see below) but your spouse dies before you. Fixed Term As the name suggests, a Fixed Term Annuity will pay an income for a fixed period, usually between 5 and 15 years. At the end of the term, depending on your age, you can choose to purchase another Fixed Term Annuity, a Lifetime Annuity or use Income Drawdown. Although such annuities provide flexibility as they are not a lifetime commitment, some do include an investment element and there is no guarantee that you will be better off at the end of the fixed term than had you taken a Lifetime Annuity or selected Income Drawdown at outset. Purchased Life Annuity (PLA) This form of annuity is purchased with your own money, which could be the tax free cash from a pension. As the income is treated partly as return of capital some of the income will be paid tax free, unlike a conventional pension annuity which is all subject to tax under the PAYE system. However, as with a lifetime annuity it lacks flexibility as the terms cannot be changed once the annuity is in force. 6

7 Options to Consider What happens when I die? An annuity provides an income for life and will cease on eth whenever that occurs. However, there are ways of extending the income benefit: Spouse or Partner Pension You can elect to include a pension for your spouse, civil partner or someone who is financially dependent on you. Should you die before your spouse or partner, any contracted annuity will be paid to them for the remainder of their life. The amount of dependent s pension is selected at outset and can be half, two-thirds or the same as your own pension. Should your spouse or partner die before you, your annuity will continue until your death and the potential benefit purchased at outset will be lost. The annuity rates are more expensive than single-life annuities because the insurance company will expect to pay an annuity for longer. Guaranteed Period You can include a Guaranteed Period payment, usually for five or ten years, which guarantees payment of the annuity to the end of the term, even if you die within this period. On your death, the income may continue to be paid for the rest of the guaranteed period, or in some circumstances it may be paid to your estate as a lump sum (and tax might be due on it). If anyone is financially dependent on you, do not look on a guaranteed period as a substitute for a joint-life annuity as the former would only provide an income for a maximum of 10 years. Capital Protection Another way of ensuring that if you die before the age of 75 your money doesn t die with you is an annuity protection lump sum death benefit. A lump sum equivalent to the pension fund you used to buy an annuity, minus the income you ve already been paid, will be paid to your estate or beneficiaries. There will be a tax charge, and may also be an inheritance tax charge. Capital protection comes at a cost and will usually result in a lower level of income than with a non-protected annuity. What about the effects of inflation? It is one of life s certainties inflation will reduce the purchasing power of annuity income over time, as has been all too evident over the past few years in particular. It is possible to purchase an annuity which income increases each year either by a fixed percentage or in line with the Retail Prices Index (RPI) usually capped at 5% per annum. Level annuities have a higher 7

8 starting level than escalating annuities and it will take a number of years for the escalating annuity to equal the level annuity. I suffer from ill health, will this affect my income? Some companies offer annuities that pay a higher level of income for those who have a health problem that is likely to reduce your life expectancy. These are called impaired life annuities and take account of health problems such as cancer, chronic asthma, diabetes, heart attack, high blood pressure, kidney failure, multiple sclerosis or stroke. You may also qualify for an enhanced annuity if you are overweight or smoke regularly. Also to those who have followed certain occupations or live in certain parts of the country. Even relatively mild conditions can result in an uplift to the annuity rates available and should be explored if any form of ill health is suffered. Usually a simple medical questionnaire is all that is needed for rates to be assessed. I have more than one pension fund, what should I do? There are advantages of combining funds: Many of the best-rate annuities have a minimum qualifying level. It is often easier to budget with one monthly income payment. Possible drawback: You might not want to crystallise all your pension funds at the same time. 8

9 Alternative Annuities Although traditional annuities do not have an investment element, they are able to enhance the income level; some life companies do now offer investment linked annuities. With a basic annuity the insurance company decides where to invest your pension fund mostly in low-risk investments such as fixed-interest assets, gilts (loans to the government) and bonds (loans to companies). You receive the quoted and guaranteed income for the rest of your life regardless of how the investment decisions play out. Investment-linked annuities offer the opportunity to invest your pension in funds of stocks and shares. Many experts believe that investment annuities are unsuitable for people with pension funds below 100,000 unless they have other assets. You will be linking your income in retirement to the ups and downs of investment markets instead of receiving a pre-determined income. Once your investment annuity has been set up you are able to switch to another provider (if you can find a provider willing to take it on) however you cannot change the type of annuity i.e. to a conventional annuity. Investment-linked annuities can be either: with profits; or unit-linked. With-Profits Annuities These link your income directly to the performance of the insurance company s with-profits fund. Typically, your income is made up of two parts: a minimum starting income This is set at a low level, but, unless investment conditions are very bad, you ll usually get at least this much income. bonuses The insurance company usually announces bonus rates once a year. Bonuses can be both reversionary (paid for the duration of your annuity) and special (paid for a year or so) until the next bonus announcement. The amount of any bonuses depends on many factors, such as: o how well investments are doing for example stock market performance; o business risk the financial strength of the fund; and o the insurance company s assessment of what it can afford to pay out in bonuses. 9

10 Remember, bonuses are not guaranteed, but will depend on the financial strength of the guarantor. Unit-linked Annuities Your income in retirement will be linked directly to the funds you have invested in. The more risky the underlying funds you choose, the more your retirement income may vary both up and down. Some unit-linked annuities work in a similar way to with-profits annuities. Your starting income is based on an assumed growth rate. If the fund grows at that assumed rate, your income stays the same. If growth is less than the assumed rate, your income falls. A few unit-linked annuities let you invest in a protected fund which limits the fall in your income in adverse market conditions. Most unit-linked annuities do not guarantee a minimum income. Even if your income is based on an assumed growth rate of 0%, your income could still fall if the value of the underlying investments falls. If you are considering an investment linked annuity you should ensure that the underlying investment funds are appropriate for your risk tolerances. 10

11 Income Drawdown The requirement to purchase an annuity by age 75 was removed in April 2011 and a new Capped and Flexible Drawdown regime was introduced to replace the old rules. How it works Under both Capped and Flexible Drawdown pension funds will remain invested and an income drawn directly from the fund. As the monies remain invested it is vital they are in an investment portfolio based on your risk profile and identified objectives. The underlying funds should be reviewed at least annually to ensure the portfolio remains on track to meet your objectives. Capped Drawdown With Capped Drawdown a maximum income limit is set when benefits are first taken and this is reviewed every 3 years prior to age 75 and annually thereafter. The income limit is calculated according to the value of the pension fund after payment of any tax free cash, your age and Government Actuary Department (GAD) rates in force at the time of the calculation. The GAD rates are based on 15 year gilt yields which are currently running at an historic low of just 2%, however, this is the floor for GAD rate calculations and therefore conditions should improve over the long term. You are able to draw an income each plan year up to the maximum limit which does give a great deal of flexibility as you are able to vary the amount you take according to your needs. If you do not draw the maximum income in one year the allowance is not carried forward in future years, it is therefore not a cumulative allowance. The underlying investment funds should be reviewed at least annually Income is taxed at source under the PAYE system in the same way as annuities. You are also able to buy an annuity at anytime using the Capped Drawdown fund or to switch to Flexible Drawdown if you can meet the criteria (see below). This option is generally appropriate for pension funds in excess of 100,000 and even then depending on personal circumstances. 11

12 Flexible Drawdown Under Flexible Drawdown there are no income limits, however, you must be able to satisfy a Minimum Income Requirement (currently 20,000) in the year in which the election is made. Only secured income will count towards the Minimum Income Requirement (MIR) which includes State Pension, lifetime annuity and scheme pension; it does not include drawdown income, savings, investments or purchased life annuities. You are not able to make any pension contributions in the same year as making the election to go in to Flexible Drawdown and you are not allowed to make any subsequent pension contributions. Although this may seem an attractive opportunity to maximise withdrawals from the pension arrangement, the income will still be taxed under PAYE and this will need to be taken in to account in the overall strategy. You will also need to consider where the monies are held once they are withdrawn from the pension in order to maximise the potential for growth and minimise tax, depending on your objectives.. 12

13 Issues to Consider What happens when I die? Where benefits have been crystallised i.e. taken into drawdown and tax free cash withdrawn, the capital value of the pension fund on death can be passed to your beneficiaries subject to tax of 55%. If benefits have not been crystallised, the value of the pension fund can be passed to your beneficiaries free of tax on death before age 75. On death after age 75 all lump sum benefits are subject to 55% tax on death regardless of whether they are crystallised or not. There will normally be no Inheritance Tax liability on such a lump sum payment. Unless full pension benefits are required, it may be appropriate to phase drawing down on the pension fund to preserve the potential fund value on death (see below). Alternatively, a spouse, civil partner or dependent may elect to continue in drawdown or use the residual fund to purchase an annuity. Unless they can satisfy the MIR in their own right, any Flexible Drawdown benefits would need to be converted to Capped Drawdown. What about the effects of inflation? The income under both Capped and Flexible Drawdown arrangements is flexible and can be adapted to suit individual needs, subject to the maximum income limit each year under Capped Drawdown. With robust investment management and regular review the arrangements should ensure sustainability is achieved. Cash flow modelling can also be used to project anticipated growth, income withdrawals and inflation assumptions to test the long term sustainability of the fund. Cash flow modelling can be used to project anticipated growth, income withdrawals and inflation assumptions to test the long term sustainability of the fund suffer from ill health, will this affect my income? Ill health will not affect the income you receive from a drawdown arrangement. If you elect to take drawdown at retirement and then suffer from ill-health you still have the option to purchase an impaired life annuity at a later date, including a benefit for your spouse or partner if appropriate. I 13

14 I have more than one pension fund, what should I do? If you have more than one pension fund you can usually combine them to give you one cohesive pension arrangement. However, specialist advice should be sought before any pension transfer is undertaken to ensure any underlying benefits that may be present, such as enhanced tax free cash entitlement, is not lost. 14

15 Scheme Pensions This form of pension provides an income paid directly from the pension scheme to a retired member. It is the only option available to a Final Salary scheme, and may be offered by a Money Purchase arrangement alongside the option to purchase a lifetime annuity. The income must be paid at least annually and may include a spouse or civil partner s benefit and/or guaranteed period as already referred to earlier. If you are a member of a Final Salary scheme you may be offered the option to exchange some of your pension income for additional tax free cash. This needs careful consideration as the amount of pension given up is often far greater than the amount of cash you would receive in exchange, for example, you could be offered 1 of cash for every 12 of annual pension given up. Final salary scheme members will also need to consider the funding position of the scheme, 84% of defined benefit (final salary) pension schemes were in deficit at the end of July 2012 Source: Pension Protection Fund according to the Pension Protection Fund (PPF) as an unprecedented 84 schemes are now in deficit. That does not mean the schemes are unsustainable but it does put extra pressure on the sponsoring employer to find additional funds to support the schemes. Some Scheme Pension are now available to individuals. These arrangements are tailored to the individual to provide an income for life with the intention that the pension fund becomes fully depleted the day after death. The level of income is calculated by an actuary based on life expectancy and pension fund value. The actuary will then give an income range the pension can support and you elect to draw an income within that range. The income limits are reviewed every three years as with Capped Drawdown. Individual scheme pension can provide a valuable bridge between Capped and Flexible Drawdown Individual scheme pension can provide a valuable bridge between Capped and Flexible Drawdown where the former may be too restrictive but where external secure income is not present to support the latter. It may also be suitable for those already in Capped Drawdown but have suffered a significant 15

16 reduction in income following review, or from ill health. A Scheme pension, whether from an occupational pension or private arrangement, is complex and professional advice is essential. 16

17 Phased Retirement Many personal pensions are set up as a cluster of separate plans, referred to as segments. Those segments can be crystallised (i.e. benefits taken) at different times under a process called phased retirement. This can be particularly useful where maximum income and tax free cash is not required immediately, for example, if you gradually reduce your working hours in the years leading up to full retirement. When segments of your pension plans are crystallised, tax free cash is taken and the residual pension fund is then used to provide income either in the form of annuity, drawdown or scheme pension. The tax free cash that is taken can be used to supplement income and in the case of capped or flexible drawdown it may be that no income is taken in the early years of phased retirement. The added valuable benefit is that on death any uncrystallised pension funds will usually be paid to beneficiaries without any tax charge, whereas drawdown funds will be taxed at 55% and annuity monies will be lost altogether unless capital protection, a guaranteed period or spouse s benefit has been included. Trivial Commutation If the total of all your pension funds is less than 18,000 you can take those funds as a cash lump sum rather than purchase an income. This is called trivial commutation and to qualify you must be aged 60 or over and you must convert all your pension funds to cash within a 12- month period. One quarter of the lump sum is tax-free and the rest is taxed as income. Alternatively, you may be able to encash small personal or occupational pension pots if you are aged 60 or over, the fund value of the pension is 2,000 or less and by taking the payment it extinguishes all your benefits under the arrangement. You must not have previously received more than one payment under one of these types of schemes. 17

18 Savings & Investments Although pensions are likely to form the core of retirement planning, you may have other savings and investments which can add considerable value to your retirement resources. ISAs, Bonds, National Savings & Investments as well as Cash on deposit should all be part of your overall retirement strategy. By using tax efficient planning, such as ISAs and Investment Bonds, your investments can provide additional income without adding to the tax burden. For example, Investment Bonds can be used to provide withdrawals of up to 5% per annum of the amount invested without any immediate charge to tax. The capital withdrawals can continue until 100% of the initial investment has been taken, therefore at 5% per annum the withdrawals could continue for up to 20 years. ii After that time the withdrawals can continue but would be subject to income tax on gains. An investment of 100,000 could therefore provide 5,000 per annum for 20 years without any immediate tax liability. By using tax efficient planning your investments and savings can provide additional income in retirement without adding to the tax burden Such planning should start with a cash flow forecast to identify the required level of income and the resources available. The cash flow forecast will also take account of irregular expenses such as holidays and new cars. A well managed diversified portfolio can provide not only additional capital or income in retirement but also peace of mind The identification of your risk profile will act as a starting point in constructing a suitable portfolio of assets, balancing risk tolerance with desired growth potential. You may find that in retirement your attitude to investment risk becomes a little more cautious as you want to preserve your assets, although we have found from experience that this is not always the case. 18

19 Wherever you fall on the risk scale, a well managed and diversified portfolio can provide not only additional capital and/or income in retirement but also peace of mind. Such an investment portfolio will need regular reviews at least annually to ensure it continues to meet your needs and that your plan stays on track. As part of an overall retirement planning exercise you may also wish to take in to consideration the position on your death and how assets may be passed on to your beneficiaries. Estate planning is another important subject and effective planning can reduce the Inheritance Tax burden and should be taken in to account if that is a priority for you. 19

20 Equity Release Your home is probably your single most valuable asset and you may be considering downsizing or using Equity Release to unlock the value of your home in retirement. The two main options for Equity Release are a Lifetime Mortgage or a Home Reversion plan. With a Lifetime Mortgage you secure a loan against the value of your home. Interest is added to the loan which becomes repayable on your death or if you sell your home, for example, if you go into a care home. With a Lifetime Mortgage you retain ownership of your home. Under a Home Reversion plan you sell part or all of your home to a Home Reversion company and therefore you will cease to own that part of your home. You will be granted a lease to remain resident in your home for your lifetime or until you move out (for example, into a care home). The Home Reversion company will only pay a percentage of the value of your home as they will have to wait until you die or move out before they can sell the property and recoup the monies paid to you. You should choose a company that is a member of SHIP (Safe Home Income Plans). This is an industry body and its members agree to abide by a voluntary code of conduct. Members guarantee that you can live in your property for life, move your plan to an alternative property without penalties and never owe more than the value of your home. Equity Release is a specialist area and requires professional independent advice. 20

21 Summary Planning for retirement is a complex subject with a myriad of options to choose from and considerations to be made. A well thought out and comprehensive retirement strategy, taking account of all your assets not just your pensions, will give you peace of mind and security in the knowledge that you will not find your money has unexpectedly run out. Of course circumstances change over time and your retirement strategy should be regularly reviewed to ensure it continues to meet your objectives and remains sustainable. Detailed professional financial advice will help you review your assets and objectives and guide you through the retirement options to help you make the right decisions. Fiducia Wealth Management Limited is an award winning firm specialising in financial planning and investment management. Our advice team has a wealth of experience of guiding clients through the retirement maze and specialising in financial planning and investment management; together with our in-house investment team we are able to construct robust and sustainable strategies. Do visit our website at or call on for further information about what we do and how we can help. This brochure has been prepared by Fiducia Wealth Management Limited and contains general advice only, which we hope will be useful. Nothing in this brochure should be construed as specific advice and it should not be relied on as a basis for any decision or action. Fiducia Wealth Management Limited does not accept any liability arising from its use. We aim to ensure that this information is as up to date and accurate as possible, but please be warned that certain areas are subject to change from time to time. Date of publication: September 2012 Fiducia Wealth Management Limited i With some exceptions for ill-health or those with certain occupations giving rise to protected pension ages under pre-2006 pension rules ii A tax charge on gains would become payable on death or encashment of the bond 21

Guide to Annuity Purchase

Guide to Annuity Purchase Fiducia Wealth Management Limited Guide to Annuity Purchase September 2012 For Professional Advisers Only Fiducia Wealth Management Ltd. Dedham Hall Business Centre, Brook Street, Colchester, Essex, CO7

More information

A Guide to Retirement Options. Contents

A Guide to Retirement Options. Contents A Guide to Retirement Options Contents 2. Quick Guide 5. Lifetime Annuities (Secured Pension) 6. Single Life and Joint Life Annuities 6. Level and Escalating Lifetime Annuities 6. Impaired Life and Enhanced

More information

Basic Guide to Retirement Income Options

Basic Guide to Retirement Income Options Basic Guide to Retirement Income Options Can I afford to retire? Which retirement income solution is best for me? Should I take all my tax-free cash entitlement? Will my family benefit from my pension

More information

Contents: What is an Annuity?

Contents: What is an Annuity? Contents: What is an Annuity? When might I need an annuity policy? Types of annuities Pension annuities Annuity income options Enhanced and Lifestyle annuities Impaired Life annuities Annuity rates FAQs

More information

FSA guide to pensions 3 Annuities and other retirement options

FSA guide to pensions 3 Annuities and other retirement options August 2006 The Financial Services Authority (FSA) is the independent watchdog set up by government to regulate financial services and protect your rights. We produce a range of user-friendly factsheets

More information

Guide to SIPPs. Investment Helpdesk: 0131 550 1212. www.cs-d.co.uk

Guide to SIPPs. Investment Helpdesk: 0131 550 1212. www.cs-d.co.uk Investment Helpdesk: 0131 550 1212 www.cs-d.co.uk SIPP stands for Self Invested Personal Pension. SIPPs are a flexible type of personal pension. Like most, they are designed to provide a retirement pot

More information

Our guide to. buying an annuity

Our guide to. buying an annuity Our guide to buying an annuity 2 Our guide to buying an annuity Contents Introduction 3 Pension reforms Thinking about retirement 3 Money and budgeting How can we help? Your retirement timeline Key questions

More information

GUIDE TO RETIREMENT PLANNING FINANCIAL GUIDE. Making the most of the new pension rules to enjoy freedom and choice in your retirement

GUIDE TO RETIREMENT PLANNING FINANCIAL GUIDE. Making the most of the new pension rules to enjoy freedom and choice in your retirement GUIDE TO RETIREMENT PLANNING Making the most of the new pension rules to enjoy freedom and choice in your retirement FINANCIAL GUIDE WELCOME Making the most of the new pension rules to enjoy freedom and

More information

Planning a prosperous retirement

Planning a prosperous retirement Planning a prosperous retirement Towry s Guide to Retirement Planning About Towry We are one of the UK s leading Wealth Advisers and specialise in providing high quality, expert financial advice to private

More information

Buying a pension annuity

Buying a pension annuity Buying a pension annuity Why do I need to think about buying a pension annuity? When you come to retire, you will have some important decisions to make. Probably most important of all is how you will generate

More information

KEY GUIDE. Investing for income when you retire

KEY GUIDE. Investing for income when you retire KEY GUIDE Investing for income when you retire Planning the longest holiday of your life There comes a time when you stop working for your money and put your money to work for you. For most people, that

More information

Guide to Buying a Pension Annuity

Guide to Buying a Pension Annuity Guide to Buying a Pension Annuity Contents Introduction 01 1. Pension Annuities 02 What is an Annuity? 02 Who Needs to Buy an Annuity? 02 Who Doesn t Need to Buy an Annuity? 02 Where Do You Buy an Annuity?

More information

Pension benefits guide How you can use your pension pot to suit your needs

Pension benefits guide How you can use your pension pot to suit your needs Pension benefits guide How you can use your pension pot to suit your needs axawealth.co.uk With the flexibility you have to take benefits through your pension, it can be difficult to know what s best for

More information

Your pension it s time to choose

Your pension it s time to choose Your pension it s time to choose The Money Advice Service is here to help you manage your money better. We provide clear, unbiased advice to help you make informed choices. We try to ensure that the information

More information

Customer guide to annuities. Understanding your options

Customer guide to annuities. Understanding your options Customer guide to annuities Understanding your options { 2 This guide is intended to provide an overview of your options at retirement, explain the various products available and point out their main advantages

More information

A clear guide to your retirement options. We ll help you get there

A clear guide to your retirement options. We ll help you get there A clear guide to your retirement options investments pensions PROTECTION We ll help you get there Contents If you are retiring soon 3 Things to consider 4 Your options at a glance 6 Tax-free lump sums

More information

A guide to the pension changes in April 2015

A guide to the pension changes in April 2015 A guide to the pension changes in April 2015 106027837.indd 1 05/01/2015 10:00 Contents What do the changes mean for you? 3 Summary of the changes from 6 April 2015 5 What s changed in practice? 6 How

More information

Accessing your Additional Voluntary Contribution (AVC)

Accessing your Additional Voluntary Contribution (AVC) Accessing your Additional Voluntary Contribution (AVC) Accessing your AVC savings Now is the time to start making decisions about your retirement and your future. One of the most important things to think

More information

Beaumont Robinson Independent Financial Advisers. your retirement options

Beaumont Robinson Independent Financial Advisers. your retirement options your retirement options This report has been prepared by Beaumont Robinson July 2011 Introduction 2 Benefit Crystallisation Events 3 Protected Rights 4 Pension Commencement Lump Sum 5 Lifetime Annuities

More information

exploring the options

exploring the options Information caveat The content of this presentation is provided for illustrative purposes only and is not intended to be used for individual investment or financial planning and does not constitute personal

More information

A guide to your retirement options

A guide to your retirement options A guide to your retirement options I have been looking forward to my retirement but now I am worried about making the right choice See your options page 4. Cathy has stood by me through the good times

More information

Contents Introduction To Annuities Flexibility of Annuity Types of Annuity About Pensioncalculator.org

Contents Introduction To Annuities Flexibility of Annuity Types of Annuity About Pensioncalculator.org Annuities Guide Contents Introduction To Annuities What is an Annuity? Why Bother with an Annuity? Main Advantages of Annuities Pros and Cons Flexibility of Annuity Buying an annuity Tax & National Insurance

More information

Information about tax relief, limits and your pension

Information about tax relief, limits and your pension Information about tax relief, limits and your pension Published: August 2015 Laws and tax rules have changed in 2015. The information here is based on our understanding in August 2015. Your personal circumstances

More information

Make the most of your retirement. Retire with Friends. It s good to talk to Friends

Make the most of your retirement. Retire with Friends. It s good to talk to Friends Make the most of your retirement Retire with Friends It s good to talk to Friends You can count on Friends Retirement today looks a lot different than it did for previous generations. It s good news. There

More information

No selling. No jargon.

No selling. No jargon. January 2008 Our guides here to help you About the Financial Services Authority. Everyday money. Saving and investing. Pensions and retirement. If things go wrong. Buying a home. Available from our Consumer

More information

Financial planning guide For teachers who are approaching retirement

Financial planning guide For teachers who are approaching retirement Financial planning guide For teachers who are approaching retirement Financial planning guide 1 2 Contents Think ahead 4 When did you join? 5 Different rules, at different times 6 What kind of member are

More information

SIPP ISA Dealing Junior ISA SIPP benefi ts guide

SIPP ISA Dealing Junior ISA SIPP benefi ts guide SIPP ISA Dealing Junior ISA SIPP benefits guide Contents Introduction SIPP benefits - the basics Annuity, income drawdown and taxable lump sums the commitments and risks 3 Your benefits options Lump sums

More information

FSA guide to annuities and income withdrawal

FSA guide to annuities and income withdrawal The Financial Services Authority (FSA) is the independent watchdog set up by government to regulate financial services and protect your rights. January 2004 FSA guide to annuities and income withdrawal

More information

With new options available from April 2015, we can help you plan your finances for a worry-free retirement

With new options available from April 2015, we can help you plan your finances for a worry-free retirement Your retirement With new options available from April 2015, we can help you plan your finances for a worry-free retirement Life is full of financial decisions and planning your retirement is one of the

More information

SELECT SIPP. Taking pension benefits guide

SELECT SIPP. Taking pension benefits guide SELECT SIPP Taking pension benefits guide Please read this guide in conjunction with the Alliance Trust Savings Handbook and the appropriate Key Features documents. Alliance Trust Savings does not give

More information

It s flexible. Key features of the Flexible Income Annuity. Flexible Income Annuity

It s flexible. Key features of the Flexible Income Annuity. Flexible Income Annuity It s flexible Key features of the Flexible Income Annuity Flexible Income Annuity This is an important document and you should read it before deciding whether to buy your pension annuity from us Purpose

More information

Important information. Key Features of the Income Choice Annuity

Important information. Key Features of the Income Choice Annuity Important information Key Features of the Income Choice Annuity Important information The Financial Conduct Authority is a financial services regulator. Prudential is required to give you the important

More information

A Guide to Releasing Capital from your Home

A Guide to Releasing Capital from your Home Advice for older people A Guide to Releasing Capital from your Home Advice provided by Advice for older people FirstStop Advice brings together the expertise of some of the most trusted and respected organisations

More information

A Guide to. Self Invested Personal Pension Schemes (SIPPS)

A Guide to. Self Invested Personal Pension Schemes (SIPPS) A Guide to Self Invested Personal Pension Schemes (SIPPS) Prepared by: John Hebblethwaite APFS CFP Chartered Financial Planner Managing Director May 2011 Contents Introduction... 3 Eligibility... 4 Contributions...

More information

Financial Planning & Guidance. A Guide to Annuities. Creating your success through Financial Planning

Financial Planning & Guidance. A Guide to Annuities. Creating your success through Financial Planning & Guidance TA Contents I m approaching retirement, what are my financial options? 02 What is a Financial Broker? 03 Why would I need to use a Financial Broker? 03 What is an annuity? 05 A Guide to Annuities

More information

Key Features Document

Key Features Document Keyfacts Key Features Document Transact Section 32 Buy Out Bond IntegraLife UK Limited A firm authorised and by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and

More information

Your guide to retirement savings and fund choices

Your guide to retirement savings and fund choices Your guide to retirement savings and fund choices The Global Connections Group Personal Pension Plan for employees automatically enrolled into the plan Contents What is The Global Connections Group Personal

More information

Conventional Lifetime Annuity Options Your Questions Answered

Conventional Lifetime Annuity Options Your Questions Answered Conventional Lifetime Annuity Options Your Questions Answered 0800 014 7470 0333 014 6267 am-5.30pm weekdays. Calls may be recorded for training and monitoring purposes. www.425fs.co.uk Contents 1. Introduction

More information

Freedom and Choice in Pensions. Your guide to the changes

Freedom and Choice in Pensions. Your guide to the changes Freedom and Choice in Pensions Your guide to the changes Contents Freedom and Choice 3-5 in Pensions Buy an annuity 6-7 Remain invested - 8-9 entering drawdown Take a cash lump sum 10 Will providers offer

More information

A Guide to. Small Self Administered Pension Schemes (SSAS)

A Guide to. Small Self Administered Pension Schemes (SSAS) A Guide to Small Self Administered Pension Schemes (SSAS) Prepared by: John Hebblethwaite APFS CFP cm MIoD FRSA Certified Chartered Financial Planner Managing Director April 2014 Contents Introduction...

More information

Investing for income when you retire

Investing for income when you retire KEY GUIDE Investing for income when you retire Planning the longest holiday of your life There comes a time when you stop working for your money and put your money to work for you. For most people, that

More information

Life and protection insurance explained

Life and protection insurance explained protection? Life and protection explained A guide to personal and family protection This guide explains the types of life and protection available and how they can offer you valuable peace of mind. If

More information

HILDA & JOHN ENHANCED ANNUITIES

HILDA & JOHN ENHANCED ANNUITIES HILDA & JOHN ENHANCED ANNUITIES 20 July 2015 OBJECTIVES 1. John would like to secure a known income stream so Hilda can live a bit better should he die in the next few years 2. Ensure you don t have to

More information

John and Deena Smith SaidSo Client Number: 3xampl3

John and Deena Smith SaidSo Client Number: 3xampl3 John and Deena Smith SaidSo Client Number: 3xampl3 YOUR SAIDSO FINANCIAL PLANNING REPORT ed [Pick the date] [Type the abstract of the document here. The abstract is typically a short summary of the contents

More information

April 2015: Forthcoming Pension Changes. Retirement options for money purchase pension schemes (including SSAS).

April 2015: Forthcoming Pension Changes. Retirement options for money purchase pension schemes (including SSAS). April 2015: Forthcoming Pension Changes Significant changes to pension regulations are being introduced on the 6 th April 2015. The legislation will be covered in the Taxation of Pensions Bill 2014 and

More information

Your pension: it s time to choose

Your pension: it s time to choose Your pension: it s time to choose Thinking about retiring Deciding how to take your retirement income Shopping around for the best income The Money Advice Service is independent and set up by government

More information

Guide to Pension Annuities

Guide to Pension Annuities Guide to Pension Annuities Having successfully built up a pension fund during your working life, there will come a time when you will need to make some important decisions about how to use this fund. These

More information

Your options at retirement

Your options at retirement UPDATED: 6 April 2015 NEW pension freedoms Your options at retirement How to take tax-free lump sums and income, under new pension freedoms One College Square South, Anchor Road, Bristol, BS1 5HL www.hl.co.uk

More information

A guide for customers

A guide for customers Pension Annuity A guide for customers Guaranteed income for life Pension Annuity If you re thinking... I want a secure income that is guaranteed to be paid for life, and I m not in the best of health.

More information

BUYING A PENSION ANNUITY.

BUYING A PENSION ANNUITY. PENSION ANNUITies BUYING A PENSION ANNUITY BUYING A PENSION ANNUITY. 1 This is an important, once and for all, decision. We want you to be confident that you have the information you need to make the right

More information

The Retirement Account. Certainty, flexibility and simplicity for life

The Retirement Account. Certainty, flexibility and simplicity for life Certainty, flexibility and simplicity for life Introducing Retirement Advantage Previously known as MGM Advantage and Stonehaven, we are a well-established company that can trace our roots back over 150

More information

BENEFITS. The remainder of your fund is used to provide a pension, in one of 2 ways:

BENEFITS. The remainder of your fund is used to provide a pension, in one of 2 ways: BENEFITS Online links to further information are shown in underlined text below. Contents 1. Your own benefits 2. Benefits on death 3. Issues to consider 4. Other points These notes outline the benefits

More information

Conventional Lifetime Annuity Options Your Questions Answered

Conventional Lifetime Annuity Options Your Questions Answered Conventional Lifetime Annuity Options Your Questions Answered 0845 077 7077 (8.30am-6pm weekdays) Calls may be recorded for training and monitoring purposes. www.425fs.co.uk Contents 1. Introduction to

More information

Drawdown Pensions: A technical guide

Drawdown Pensions: A technical guide For Financial Adviser use only Drawdown Pensions: A technical guide March 2013 News and information from MetLife s Technical Team In this bulletin: Drawdown has been an alternative to annuity purchase

More information

KEY GUIDE. Pensions and tax planning for high earners

KEY GUIDE. Pensions and tax planning for high earners KEY GUIDE Pensions and tax planning for high earners The rising tax burden on income If you find more and more of your income is taxed at over the basic rate, you are not alone. The higher rate threshold

More information

Financial Planning & Guidance. A Guide to Annuities. Creating your success through Financial Planning

Financial Planning & Guidance. A Guide to Annuities. Creating your success through Financial Planning & Guidance TA Contents I m approaching retirement, what are my financial options? 02 What is a Financial Broker? 03 Why would I need to use a Financial Broker? 03 What is an annuity? 05 A Guide to Annuities

More information

Important information. Key Features of the Flexible Retirement Plan (Personal Pension Plan with SIPP options)

Important information. Key Features of the Flexible Retirement Plan (Personal Pension Plan with SIPP options) Important information Key Features of the Flexible Retirement Plan (Personal Pension Plan with SIPP options) > Contents About this booklet 3 About our Flexible Retirement Plan 4 Who can take out a Flexible

More information

Pension Annuity. Key Features

Pension Annuity. Key Features Helping you decide The Financial Services Authority is the independent financial services regulator. It requires us to give you this important information to help you to decide whether our Pension Annuity

More information

Telegraph Investor SIPP Payment of Benefits Guidance Notes

Telegraph Investor SIPP Payment of Benefits Guidance Notes Under the HMRC pension legislation you can take your benefits from age 55, or younger on ill health grounds (see section below). Please note that you do not have to leave employment to draw your benefits

More information

CONSERVO INTERNATIONAL RETIREMENT PLAN INFORMATION SHEET

CONSERVO INTERNATIONAL RETIREMENT PLAN INFORMATION SHEET CONSERVO INTERNATIONAL RETIREMENT PLAN INFORMATION SHEET www.sovereigngroup.com Conservo International Retirement Plan Information Sheet The Conservo International Retirement Plan ( the Plan ) is a low

More information

Options available when deciding to take pension benefits

Options available when deciding to take pension benefits Options available when deciding to take pension benefits You can now use the money that has built up in your pension fund to provide you with an income in retirement. An income can be provided in any of

More information

Additional Voluntary Contributions (AVCs)

Additional Voluntary Contributions (AVCs) AVCs FINAL SALARY SECTION Important Note: With effect from 1st November 2015, no new Added Years AVC arrangements will be permitted. Existing contracts will not be affected by this change. Additional Voluntary

More information

RETIREMENT ACCOUNT ADVISER TECHNICAL GUIDE

RETIREMENT ACCOUNT ADVISER TECHNICAL GUIDE RETIREMENT ACCOUNT ADVISER TECHNICAL GUIDE This information is for UK financial adviser use only and should not be distributed to or relied upon by any other person. INTRODUCTION THE RETIREMENT ACCOUNT

More information

KEY GUIDE. Pensions and tax planning for high earners

KEY GUIDE. Pensions and tax planning for high earners KEY GUIDE Pensions and tax planning for high earners The rising tax burden on income If you find more and more of your income is taxed at over the basic rate, you are not alone. The point at which you

More information

Pension Annuity. Key features

Pension Annuity. Key features Helping you decide The Financial Conduct Authority is a financial services regulator. It requires us to give you this important information to help you to decide whether our Pension Annuity is right for

More information

Annuities. A Quick Guide. CIB Retirement Solutions

Annuities. A Quick Guide. CIB Retirement Solutions CIB Retirement Solutions Annuities A Quick Guide CIB Retirement Solutions Beta House, Laser Quay, Culpeper Close, Rochester, Kent. ME2 4HU Tel: 01634 729990 Fax: 0845 528 1116 Email: pensions@cibretirement.com

More information

Guide to Annuities. TQinvest.co.uk

Guide to Annuities. TQinvest.co.uk Guide to Annuities TQinvest.co.uk 03 Introduction 04 TQ Invest - helping you get the best deal 06 Your Annuity product options 08 Options and benefits 10 Offering more options our service to you 11 About

More information

KEY FEATURES OF YOUR BUYOUT BOND ILLUSTRATION KEY FEATURES. and Conditions, available from your financial adviser.

KEY FEATURES OF YOUR BUYOUT BOND ILLUSTRATION KEY FEATURES. and Conditions, available from your financial adviser. 00000 Old Mutual Wealth Life Assurance Limited is a provider of long-term life assurance. It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential

More information

YOUR GUIDE TO RETIREMENT

YOUR GUIDE TO RETIREMENT YOUR GUIDE TO RETIREMENT www.phoenixlife.co.uk CONTENTS Page Purpose of this guide 3 Your pension options - Buying your pension income (annuity) from us 4 Your pension options - Buying your pension income

More information

1. Alice has the following income and benefits in the tax year 2016/17

1. Alice has the following income and benefits in the tax year 2016/17 1. Alice has the following income and benefits in the tax year 2016/17 Salary 100,000 Company car 5,000 Dividends 4,000 Income from a rental property 10,000 Employer pension contribution 60,000 (carry

More information

Contents. Aims, commitments and risks. Questions and answers. Contributions. Transfers. Investments

Contents. Aims, commitments and risks. Questions and answers. Contributions. Transfers. Investments SIPP ISA Dealing Junior ISA SIPP key features The Financial Conduct Authority is the independent financial services regulator. It requires us, AJ Bell Management Limited, to give you this important information

More information

The Retirement Account

The Retirement Account The Retirement Account Key Features This is an important document and you should read it before deciding whether to buy your Retirement Account from us Purpose of this document This Key Features booklet

More information

Making the most of your tax-free allowances

Making the most of your tax-free allowances UNISONMONEYTALK The personal finance newsletter for UNISON members published by Lighthouse Financial Advice Autumn 2015 Making the most of your tax-free allowances A key consideration for anyone with money

More information

CHAPTER 10 ANNUITIES

CHAPTER 10 ANNUITIES CHAPTER 10 ANNUITIES are contracts sold by life insurance companies that pay monthly, quarterly, semiannual, or annual income benefits for the life of a person (the annuitant), for the lives of two or

More information

A Guide to RETIREMENT PLANNING

A Guide to RETIREMENT PLANNING A Guide to RETIREMENT PLANNING PARTNERS IN MANAGING YOUR WEALTH Contents 3 Retirement planning guide 4 Retirement - the facts 5 How much will you need in retirement? 7 Investing for your retirement 8 What

More information

Key Features of the NHS Additional Voluntary Contributions (AVC) Scheme

Key Features of the NHS Additional Voluntary Contributions (AVC) Scheme Key Features of the NHS Additional Voluntary Contributions (AVC) Scheme Important information you need to read The Financial Conduct Authority is a financial services regulator. It requires us, Prudential,

More information

Your retirement could have even more going for it

Your retirement could have even more going for it Your retirement could have even more going for it A straightforward guide to equity release For no obligation advice: call 0800 015 0993 www.justretirementsolutions.com Contents Imagine what you could

More information

Annuities Guide. Simply Retirement make it easy for you to find the best deal in retirement. Simply Retirement Ltd who are we? Who is this guide for?

Annuities Guide. Simply Retirement make it easy for you to find the best deal in retirement. Simply Retirement Ltd who are we? Who is this guide for? Simply Retirement make it easy for you to find the best deal in retirement Jan Leeming Annuities Guide Simply Retirement Ltd who are we? Thank you for requesting this annuity guide. I would just like to

More information

Collective Retirement Account

Collective Retirement Account Key features of the Collective Retirement Account The Financial Conduct Authority is a financial services regulator. It requires us, Old Mutual Wealth, to give you this important information to help you

More information

KEY GUIDE. Investing for income at retirement

KEY GUIDE. Investing for income at retirement KEY GUIDE Investing for income at retirement Introduction The decisions you make at retirement could have repercussions for the rest of your life. That might be considerably longer than you think, as the

More information

Self Invested Personal Pensions (SIPPs)

Self Invested Personal Pensions (SIPPs) 1 Self Invested Personal Pensions (SIPPs) listening, understanding, advising Why SIPPs? A Self Invested Personal Pension (SIPP) is a pension scheme that enables you to have a great degree of control over

More information

Enhanced Annuities. Contact us at info@justretirement.co.za 1

Enhanced Annuities. Contact us at info@justretirement.co.za 1 This brochure gives a brief explanation of Just Retirement Enhanced Annuities, all of which provide a guaranteed income for life. It explains who may qualify for a higher retirement income from this product

More information

Report for Charles & Jennifer [CS7] (prepared in August 2012 in tax year ending 05-April-2013)

Report for Charles & Jennifer [CS7] (prepared in August 2012 in tax year ending 05-April-2013) Report for Charles & Jennifer [CS7] (prepared in August 2012 in tax year ending 05-April-2013) Objectives Jennifer has recently inherited 50,000 and you would like advice on how to use this to meet the

More information

RETIREMENT FUND MEMBER INFORMATION

RETIREMENT FUND MEMBER INFORMATION RETIREMENT FUND MEMBER INFORMATION OPTIONS ON RESIGNATION, RETRENCHMENT OR DISMISSAL If you resign, or are retrenched or dismissed, your membership of your retirement fund will come to an end. The fund

More information

TAKING CONTROL OF YOUR PENSION PLAN. The value of pension contributions

TAKING CONTROL OF YOUR PENSION PLAN. The value of pension contributions TAKING CONTROL OF YOUR PENSION PLAN If you add together all the money you have in pension arrangements, the total may well dwarf every other investment you ever make. Despite this, many people are happy

More information

TD Direct Investing A Guide to SIPPs

TD Direct Investing A Guide to SIPPs TD Direct Investing A Guide to SIPPs Introduction If you are considering investing for retirement, there are a number of ways to approach it. One way is to embark on the do it yourself (DIY) self investment

More information

Equity Release Guide. Helping you make the right decision. nationwide service all lenders available personal visits. www.therightequityrelease.co.

Equity Release Guide. Helping you make the right decision. nationwide service all lenders available personal visits. www.therightequityrelease.co. Equity Release Guide 0800 612 5749 www.therightequityrelease.co.uk Helping you make the right decision nationwide service all lenders available personal visits 1 Welcome to The Right Equity Release Who

More information

Important information. Key Features of the Guaranteed Pension Annuity

Important information. Key Features of the Guaranteed Pension Annuity Important information Key Features of the Guaranteed Pension Annuity Important information The Financial Conduct Authority is a financial services regulator. Prudential is required to give you the important

More information

Deciphering Life Insurance Options: How Choosing the Right Policy Can Help Safeguard Your Earning Potential and Savings

Deciphering Life Insurance Options: How Choosing the Right Policy Can Help Safeguard Your Earning Potential and Savings How Choosing the Right Policy Can Help Safeguard Your Earning Potential and Savings 1 Many people think of life insurance as something they ll need when they get a bit older and want to ensure their loved

More information

Key Annuities Features of the Just Retirement

Key Annuities Features of the Just Retirement Key Annuities Features of the Just Retirement Make Fixed Term your retirement Annuity income the best it can possibly be This brochure outlines the key features of the Just Retirement Fixed Term Annuity.

More information

Public Sector Employees Approaching Retirement

Public Sector Employees Approaching Retirement Public Sector Employees Approaching Retirement Sub-Title taking care of you... Planning for retirement Contents Planning for retirement 4 Retirement Lump Sum 5 Additional Pension 6 Sample Illustrations

More information

Defined Contribution Pensions Members Guide. Irish Life - Company Pension Plans Made Easy

Defined Contribution Pensions Members Guide. Irish Life - Company Pension Plans Made Easy Defined Contribution Pensions Members Guide Irish Life - Company Pension Plans Made Easy Pensions on-line... Check out the Irish Life Corporate Business Website! Find the latest investment information,

More information

Important information. Key Features of the Teachers Additional Voluntary Contributions (AVC) Scheme

Important information. Key Features of the Teachers Additional Voluntary Contributions (AVC) Scheme Important information Key Features of the Teachers Additional Voluntary Contributions (AVC) Scheme > Contents About this booklet 4 About the Teachers AVC Scheme 5 Its aim 5 Your commitment 5 Risks 6 Questions

More information

Release your equity tied up in your home Equity Release

Release your equity tied up in your home Equity Release Golden Age Equity brochure 14/8/07 14:58 Page 1 Because it,s your life Totally independent professional advice: Release your equity tied up in your home Equity Release Retirement planning Financial planning

More information

Annuity Growth Account

Annuity Growth Account Annuity Growth Account a flexible lifetime annuity Client guide Contents About Canada Life page 3 Introduction to AGA page 4 Main features AGA may be suitable page 5 AGA will be unsuitable How does AGA

More information

The Personal Range Key Features of the Individual Personal Pension Transfer Value Account

The Personal Range Key Features of the Individual Personal Pension Transfer Value Account The Personal Range Key Features of the Individual Personal Pension Transfer Value Account Reference MPEN11/F 07.15 The Financial Conduct Authority is a financial services regulator. It requires us, Friends

More information

The five-step plan to a better retirement. A step by step guide to organising your finances

The five-step plan to a better retirement. A step by step guide to organising your finances The five-step plan to a better retirement A step by step guide to organising your finances This is one of the biggest financial decisions you ll make so it s important to get it right. At Fidelity we strongly

More information

CAVENDISH EQUITY RELEASE. The Essential Guide. Equity Release TRUSTED & IMPARTIAL ADVICE SINCE 1985

CAVENDISH EQUITY RELEASE. The Essential Guide. Equity Release TRUSTED & IMPARTIAL ADVICE SINCE 1985 CAVENDISH Equity Release TRUSTED & IMPARTIAL ADVICE SINCE 1985 EQUITY RELEASE The Essential Guide INDEX Welcome to Cavendish Equity Release 3 How can Equity Release be used? 4 Why is specialist advice

More information

Pre-Retirement Mistakes

Pre-Retirement Mistakes Pre-Retirement Mistakes During the course of my working life advising people approaching retirement, I come across the same mistakes time and time again. So, I thought it would be useful to highlight some

More information

Changes announced in last year s Budget have removed some of the

Changes announced in last year s Budget have removed some of the The Australian Journal of Financial Planning 71 Reverse mortgages and pension planning By Benedict Davies Technical Services Manager, Over Fifty Group Changes announced in last year s Budget have removed

More information