A Guide to RETIREMENT PLANNING

Size: px
Start display at page:

Download "A Guide to RETIREMENT PLANNING"

Transcription

1 A Guide to RETIREMENT PLANNING PARTNERS IN MANAGING YOUR WEALTH

2 Contents 3 Retirement planning guide 4 Retirement - the facts 5 How much will you need in retirement? 7 Investing for your retirement 8 What are the pension rules? 10 What about SIPPs? 11 How should you take your pension? 12 Summary 14 St. James s Place - Partners in managing your wealth 2

3 It is better to have a permanent income than to be fascinating. Oscar Wilde Retirement planning guide Whether retirement is many years away or just round the corner, unless we start planning for retirement now, there is a great danger that we could outlive our savings. The golden rule is to find out exactly how much you are going to need in retirement - and to start planning for it now. The stark reality is that the majority of us need to save more. With people living to a greater age, retirement can now last longer than the time we spend working. We all must accumulate more when we are earning to meet the extra costs of living longer. The decisions we make today will dictate the standard of living we will enjoy in retirement. And beware the cost of delay. The earlier you make a start, the easier it will be to create the retirement lifestyle you want. You need to commit to a plan, and take action. 3

4 Retirement - the facts Today, 22% of the UK population is over retirement age - and this figure is projected to reach 25% by * In 1981, the life expectancy of a 65 year old man was 16 years. A 65 year old man can now expect to live until 87 (22 more years). ** So, from a retirement planning viewpoint, it means that someone retiring now will need to have built up retirement funds significantly more than someone retiring in The prospect of outliving savings and running out of money in retirement is a daunting one. This could become a harsh reality if there is a lack of proper planning, which is why it is vital to take action now before it is too late to repair the damage. Sources * Office of National Statistics, Summer ** The Office for National Statistics and Government Actuary s Department; 2006 principal life expectancy projections. 4

5 How much will you need in retirement? Your life in retirement is likely to be very different from your working one, both personally and financially. You will probably have lower outgoings. Children will most likely have left home, and most of your long-term debts like the mortgage will probably have been cleared. You do need to take into account, however, that you might want to spend more on leisure activities like holidays, travelling and hobbies. And you may choose semi-retirement, maintaining some level of employment while you are still happy to work. It is therefore clear that making a calculation for your retirement fund is entirely personal, however below are some examples that may prove instructive. Let s assume you are 40 and you want an annual retirement income of 30,000 when you retire at 65. As a rule of thumb you should apply a multiple of 25 to the 30,000, and consequently you are going to need a retirement fund of 750,000 to help achieve the desired level of income in retirement. When you work out how much income you need in retirement remember to allow for inflation. 5

6 The longer you leave it to take action, the more expensive it will be to catch up. Take the following example. Assume you start saving for retirement at the age of 40, and invest 500 a month gross of tax relief and increasing each year in line with average earnings. If you delayed by five years, and started at the age of 45 instead, you would need to invest 783 a month, gross, to achieve the same fund. Delay until the age of 50, and the gross figure becomes 1,424 a month. These figures assume contributions are made to a St. James s Place Retirement Plan, based on projections of 7% annum and are for illustration purposes only. They are examples and are not guaranteed and are not minimum or maximum amounts. What you get back will depend on how your investment grows and the tax treatment of the investment. You could get back more or less than this. 6

7 Investing for your retirement Pensions have a unique advantage when it comes to investing for your retirement, thanks to the availability of tax relief and the ability to obtain it by contributing up to 100% of your earnings or a maximum of 245,000 - whichever is lower. Personal contributions are payable net of basic rate tax of 20% and relievable against the higher rate of 40%. So if a member pays a contribution of 80,000 net of basic rate tax, the scheme will invest 100,000. Assuming that higher rate relief is available on the whole contribution, the real cost of the contribution will be reduced by a further 20%, or 20,000 in the example, to 60,000. The additional 20% of tax relief is obtained by submitting a self-assessment tax return. However, individuals with an income above 150,000 in this or either of the previous two tax may only receive higher rate tax relief on contributions of up to the Special Annual Allowance of 20,000 pa. Any contributions paid over 20,000 may be subject to the Special Annual Allowance Charge, which will reduce personal tax relief to 20%. All of the growth in your pension fund is largely free of all UK income and Capital Gains Taxes. Just to emphasise the advantages of these arrangements, 25% of the fund is then available as a tax free cash sum from age 55, or earlier if taken before April Stripped down to its tax essentials, this means that for someone with an income of 150,000 or less a pre-tax income from a fund of 75,000 (after tax free cash of 25,000 is extracted) has been provided by a net investment of 35,000 (net cost 60,000 less 25,000 tax free cash). Please note that the tax treatment of pensions may be subject to change in the future. 7

8 What are the pension rules? 6 April 2006, known as A Day, saw the introduction of a single, simple system to replace a number of previously complex regimes. This has made planning for retirement and taking control of your pension so much easier. The main changes were: A lifetime allowance of 1.75m (2009/2010) increasing to 1.8m by The Lifetime Allowance is reviewed every 5 years. HM Revenue and Customs has confirmed that the level of the Lifetime Allowance will remain at 1.8million for tax years 2011/12 to 2015/16. Any fund in excess of this allowance will be taxed at the point when benefits are taken, at a rate of 55% on the excess of the fund over the lifetime allowance For most people tax relief on personal contributions is only available on 100% of salary with a maximum Annual Allowance of 245k per annum (2009/10) increasing to 255k per annum by 2010, although it is possible to contribute in excess of this amount with no tax relief. The Annual Allowance is reviewed every 5 years. HM Revenue and Customs has confirmed that the level of the Annual Allowance will remain at 255,000 for tax years 2011/2012 to 2015/16 The minimum retirement age moves to 55 from % of your fund can be taken as tax-free cash. The increased flexibility around what you can pay affects all of us and gives some individuals a real chance to start funding a decent pension. If, for example, you are 40, and have earnings of 100,000 pa, the most you could previously fund in a personal pension plan was 20,000 pa. Since A Day, providing you can afford it, you are able to pay in 100,000. 8

9 One of the other changes that impacts on individuals is the fact that you can take benefits from 55 without ceasing employment. This increases the options available to you. The rules also mean pension contributions can now form a meaningful part of an exit strategy for business owners. While contributions may not exceed the stated allowance in most years, there are no limits (apart from the lifetime allowance and the 100% of salary limit) on how much you can put in during the tax year before you reach retirement. If you are a company owner planning to sell your business on retirement, you could make a large contribution to your pension fund during the final year. While allowing a decentsized pension, this will have the added benefit of reducing the value of the business and hence the Capital Gains Tax on exit. The options that you can now consider at retirement have increased. You no longer have to purchase an annuity, you can take the tax-free cash and decide not to take an income from your pensions. You do not even need to purchase an annuity when you reach age 75. Retirement is an extremely important time; it is vital that you consider all of the available options and take professional advice. 9

10 What about SIPPs? SIPPs, (Self Invested Pension Plans) give a much greater range of investment options than those available through most traditional pension plans. Investment is allowed in a host of areas, including equities, stocks and shares, unit trusts, OEICs, gilts and commercial property. This flexibility allows you to spread the risk of products performing badly, and the investment growth is free from all UK personal income and Capital Gains Taxes. But in order to maximise the benefits of the wider investment choice on offer, active management is essential. Find out more about your investment options in our free Guide to Wealth Management. 10

11 How should you take your pension? The earliest age you can take benefits from a pension is currently set at the age of 50, and this will increase to 55 by The good news is that you do not need to retire to take your benefits - you can take part or all of your fund and carry on working, if you wish. You can take up to 25% of your fund free of tax at any time after you reach the minimum pension age. Before, this meant you usually had to buy an annuity (a product that lets you convert your pension fund into an income for life) with the remaining fund, but under the new rules, this is no longer necessary - you can take your tax-free lump sum and defer receiving any income until age 75. Annuities are taxed as earned income. 11

12 Summary Retirement planning presents numerous fresh opportunities and it is never too late to look at your current pension provisions to determine how best to take advantage. One of the key requirements is to keep making full use of your personal contribution limits. Keep monitoring and reviewing the size of your fund, and review your attitude to risk - and as retirement nears, consider the best way to draw your benefits. 12

13 No one likes to face up to the fact that they are getting older and that retirement is fast approaching. Many people have been trying other ways of generating income for retirement - buyto-let, downsizing, investments like ISAs - yet it remains clear that not enough people in the UK are putting sufficient sums away to have an adequate retirement income. Over the past few years, pension planning has not been at the forefront of everybody s minds particularly with changing market conditions and the introduction of stakeholder pensions. The arrival of A Day and the radical changes it has brought to the system has moved pensions to the top of the agenda and created fresh awareness. If you have not sought professional advice beforehand, it is essential you do so now. 13

14 Partners in managing your wealth St. James s Place Wealth Management is a leading company in the expanding wealth management market. We are a FTSE 250 business with funds under management of over 15 bn. We specialise in meeting the financial needs of people who have created significant capital, or who earn higher incomes, and whose circumstances are therefore more complicated than most. We put our clients first Our advisers, members of the St. James s Place Partnership, build relationships with clients that last. All our advice is face-to-face and focused on the personal needs of each individual client as we recognise that no one client s objectives or circumstances are the same as another. This approach, combined with the average of 17 years experience of our advisers, ensures the relationships we build are founded on trust. 14

15 Focused on protecting and growing our clients investments We do not employ in-house fund managers because we believe that no single fund management house has a monopoly of investment expertise. We therefore carefully select a number of external managers to manage our range of funds. The cornerstone of this approach is the Investment Committee who manage the fund managers on behalf of our clients. We retain an independent investment consulting firm, Stamford Associates, who play a crucial role in selection and management. Stamford s only business is in advising large pensions funds - and us - on the selection of fund managers. This approach gives us both the flexibility to respond to market conditions as they change and also the certainty that we are employing the best fund managers for our clients. In other areas such as pensions, life assurance, trust and estate planning, we have carefully selected products and services from other providers, which we believe represent the best of breed in their respective categories. 15

16 WINNER WEALTH MANAGER OF THE YEAR 2009 BEST WEALTH MANAGER 2008 ST. JAMES'S PLACE WEALTH MANAGEMENT Winner Wealth Manager of the Year 2007 & 2008 visit All information correct as at July 2009 Members of the St. James s Place Wealth Management Group are authorised and regulated by the Financial Services Authority. The St. James s Place Partnership and the title Partner are the marketing terms used to describe St. James s Place representatives. St. James s Place Wealth Management plc: Registered Office St. James s Place House, Dollar Street, Cirencester, Gloucestershire GL7 2AQ, United Kingdom Registered in England Number SJP2314P-VR5 (06/09)

A Guide to RETIREMENT PLANNING PARTNERS IN MANAGING YOUR WEALTH PARTNERS IN MANAGING 1 YOUR WEALTH

A Guide to RETIREMENT PLANNING PARTNERS IN MANAGING YOUR WEALTH PARTNERS IN MANAGING 1 YOUR WEALTH A Guide to RETIREMENT PLANNING PARTNERS IN MANAGING 1 YOUR WEALTH Contents Retirement planning guide 3 Retirement the facts 4 How much will you need in retirement? 5 Investing for your retirement 7 What

More information

SUCCESSFUL RETIREMENT PLANNING P A R T N E R S I N M A N A G I N G Y O U R W E A L T H

SUCCESSFUL RETIREMENT PLANNING P A R T N E R S I N M A N A G I N G Y O U R W E A L T H SUCCESSFUL RETIREMENT PLANNING P A R T N E R S I N M A N A G I N G Y O U R W E A L T H Contents 6 The St. James s Place Partnership 9 The luxury of choice 10 Pension schemes - the tax giveaway 11 The

More information

The Oracle My Pension Plan. Giving you the power to choose

The Oracle My Pension Plan. Giving you the power to choose The Oracle My Pension Plan A Flexible Retirement Plan from Standard Life Giving you the power to choose Contents 03 Welcome 04 Benefits to you 06 Why should you join? 08 The state won t keep you warm 10

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

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

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

Guide to Retirement Planning 2014/15

Guide to Retirement Planning 2014/15 Guide to Retirement Planning 2014/15 Retirement isn t what it used to be. In many ways it is better: people are living longer and enjoying healthier and more active retirement years. On the financial side,

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

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

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

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

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

Additional Voluntary Contributions

Additional Voluntary Contributions Additional Voluntary Contributions Working in partnership with the Universities Superannuation Scheme to help you towards a more comfortable retirement Will you have enough money for retirement? As a member

More information

guide to pension tax relief.

guide to pension tax relief. guide to pension tax relief. introduction tax benefits of pensions tax relief maximum contributions how to make a pension contribution what next? introduction tax benefits of pensions tax relief maximum

More information

Your guide to Annuities

Your guide to Annuities Your guide to Annuities From Standard Life It s good to know what s around the next corner 1 of 24 If you would like a secure source of income and have a built up pension fund or a lump sum to invest,

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

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

Your retirement income. Exploring your options

Your retirement income. Exploring your options Your retirement income Exploring your options Contents 02 What do you want to do with your pension fund? 07 A regular retirement income for the rest of your life 10 A flexible income from a Self Invested

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

The pension freedoms are one of the

The pension freedoms are one of the PARLIAMENTHILLMONEYTALK The personal finance newsletter for Parliament Hill member organisations published by Lighthouse Financial Advice AUTUMN 2015 How to reduce tax on your pension and other assets

More information

Personal Pension Account

Personal Pension Account Personal Pension Account Contents Introduction... 1 A Closer Look At Our Personal Pension Account... 2 What Are The Tax Advantages?... 3 Flexible Contribution Options... 4 You Control Your Investment...

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

M&G Guide to Retirement Income

M&G Guide to Retirement Income M&G Guide to Retirement Income 2 Working out how to make adequate financial provision for retirement is one of the most important financial decisions most of us will ever face. However, it can be a daunting

More information

A guide to pension tax

A guide to pension tax A guide to pension tax Footer info Zurich Blue 2 or White Contents About this guide 3 Tax treatment of payments 4 Eligibility to receive tax relief on payments Tax relief on payments made to pension schemes

More information

Sample Plan. Financial Plan

Sample Plan. Financial Plan Financial Plan ... Financial Plan For Peter & Helen Conroy....... a. a August 15, 2012 This Financial Plan together with your Plan of Action constitute your Statement of Suitability. Important Notice -

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. 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

Retirement. 2012/13 guide to... Mapus-Smith & Lemmon LLP. Chartered Accountants

Retirement. 2012/13 guide to... Mapus-Smith & Lemmon LLP. Chartered Accountants 2012/13 guide to... Retirement Planning Mapus-Smith & Lemmon LLP hartered Accountants 48 King Street, King s Lynn, Norfolk. PE30 1HE Tel: 01553 774761 Fax: 01553 768419 www.mapus.co.uk your guide to Retirement

More information

A Guide to Retirement Planning for Company Directors & Executives

A Guide to Retirement Planning for Company Directors & Executives A Guide to Retirement Planning for Company Directors & Executives 2012 01.01 Contents 02.01 Pension Planning 03 03.01 Types of Pension provision 04 04.01 Executive Retirement Plan 05 05.01 Tax benefits

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

Police Pension Scheme Road Map to Retirement. www.policemoneymatters.com

Police Pension Scheme Road Map to Retirement. www.policemoneymatters.com Police Pension Scheme Road Map to Retirement Click below to register your place at a PMM Retirement Seminar in your location www.policemoneymatters.com Copyright: Police Money Matters 2012. Contents 3

More information

Self Invested Personal Pensions (SIPPs)

Self Invested Personal Pensions (SIPPs) SHARE DEALING INVESTMENT MANAGEMENT Your guide to Self Invested Personal Pensions (SIPPs) A flexible way to manage your pension arrangements Self Invested Personal Pensions (SIPPs) Self Invested Personal

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

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

Your Guide to Pension Freedom

Your Guide to Pension Freedom Your Guide to Pension Freedom 3 From April 2015, individuals will have more freedom to access their pensions. These changes mark a radical departure from the existing system, by giving you greater choice

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

Your Guide to Equity Release

Your Guide to Equity Release Equity release has provided me with financial stability. I now have the opportunity to help my family, go on holiday, and make some home improvements. Mr W, East Sussex Your Guide to Equity Release Contents

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

KEY FEATURES OF LEGAL & GENERAL S PENSION ANNUITY.

KEY FEATURES OF LEGAL & GENERAL S PENSION ANNUITY. PENSION ANNUITIES KEY FEATURES OF LEGAL & GENERAL S PENSION ANNUITY. HELPING YOU MAKE THE RIGHT DECISIONS FOR YOUR FUTURE This is an important document that you should keep in a safe place. 02 KEY FEATURES

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

Pensions Tax Reliefs. 03333 219 000 advice@bishopfleming.co.uk. www.bishopfleming.co.uk

Pensions Tax Reliefs. 03333 219 000 advice@bishopfleming.co.uk. www.bishopfleming.co.uk Pensions Tax Reliefs Types of pension schemes There are two broad types of pension schemes from which an individual may eventually be in receipt of a pension: Workplace pension schemes Personal Pension

More information

TRUST AND ESTATE PLANNING PARTNERS IN MANAGING YOUR WEALTH PARTNERS IN MANAGING YOUR WEALTH

TRUST AND ESTATE PLANNING PARTNERS IN MANAGING YOUR WEALTH PARTNERS IN MANAGING YOUR WEALTH TRUST AND ESTATE PLANNING 1 About St. James s Place At St. James s Place Wealth Management we offer a wide range of high quality services to both individuals and businesses. At the heart of the business

More information

Our Services www.pembrokefinancial.co.uk

Our Services www.pembrokefinancial.co.uk Independent Financial Advisers One less thing to worry about... A Guide to Our Services www.pembrokefinancial.co.uk About Our Services We are Independent Financial Advisers (IFA s) working in partnership

More information

Asset Preservation Trust

Asset Preservation Trust Asset Preservation Trust What is the St. James s Place Asset Preservation Trust? The St. James s Place Asset Preservation Trust (the Asset Preservation Trust) is specifically designed to receive death

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

BAE SYSTEMS PENSIONS BECAUSE PLANNING IS PART OF THE JOURNEY RETIREMENT ACCOUNT GUIDE LEVEL 100+ MARCH 2015

BAE SYSTEMS PENSIONS BECAUSE PLANNING IS PART OF THE JOURNEY RETIREMENT ACCOUNT GUIDE LEVEL 100+ MARCH 2015 BAE SYSTEMS PENSIONS BECAUSE PLANNING IS PART OF THE JOURNEY RETIREMENT ACCOUNT GUIDE LEVEL 100+ MARCH 2015 CONTENTS Where your Scheme benefits come from 4 Your choices affect your retirement account 5

More information

Welcome to ST. JAMES S PLACE 1 PARTNERS IN MANAGING YOUR WEALTH PARTNERS IN MANAGING YOUR WEALTH

Welcome to ST. JAMES S PLACE 1 PARTNERS IN MANAGING YOUR WEALTH PARTNERS IN MANAGING YOUR WEALTH Welcome to ST. JAMES S PLACE 1 2 Welcome to St. James s Place Wealth Management. We are a FTSE 250 company with over 27bn of client funds under management, specialising in the provision of face-to-face

More information

Taxable income band Property Interest Dividends

Taxable income band Property Interest Dividends THE TAXATION OF INVESTMENTS The taxation of investments has never been a simple matter. In recent years it has become more complex as successive governments have chosen to tax different sources of investment

More information

The Fiducia Guide to Retirement Planning

The Fiducia Guide to Retirement Planning 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

More information

Taking control of your future

Taking control of your future The Association of Investment Companies Taking control of your future A guide to Self-Invested Personal Pensions September 2014 www.theaic.co.uk The Association of Saving for your retirement is one of

More information

Important document please read. Wesleyan SIPP (Self-Invested Personal Pension)

Important document please read. Wesleyan SIPP (Self-Invested Personal Pension) Important document please read Wesleyan SIPP (Self-Invested Personal Pension) Key features of the Wesleyan SIPP (Self-Invested Personal Pension) The Financial Services Authority is the independent financial

More information

SIPP Key Facts. This is an important document which you should keep.

SIPP Key Facts. This is an important document which you should keep. SIPP Key Facts! This is an important document which you should keep. 2 Key Facts of the Alliance Trust Savings SIPP The Financial Conduct Authority is the independent financial services regulator. It requires

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

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

KEY FEATURES OF THE SELF-INVESTED PERSONAL PENSION (SIPP) FOR INCOME DRAWDOWN OR PHASED RETIREMENT. Important information you need to read

KEY FEATURES OF THE SELF-INVESTED PERSONAL PENSION (SIPP) FOR INCOME DRAWDOWN OR PHASED RETIREMENT. Important information you need to read KEY FEATURES OF THE SELF-INVESTED PERSONAL PENSION (SIPP) FOR INCOME DRAWDOWN OR PHASED RETIREMENT Important information you need to read THE FINANCIAL CONDUCT AUTHORITY IS A FINANCIAL SERVICES REGULATOR.

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

Guide to transfers. A basic information guide to UK pension transfers

Guide to transfers. A basic information guide to UK pension transfers A basic information guide to UK pension transfers Contents Guide to UK pension transfers 3 What the guide covers 3 What is a pension transfer? 3 Why is advice important? 3 What you should discuss with

More information

A guide to mortgages

A guide to mortgages A guide to mortgages Contents An Introduction to mortgages 3 What is a mortgage? 4 Choosing a mortgage - where to start 5 What to consider before getting a mortgage? 6 Mortgage and repayment types 8 Interest

More information

STARTER GUIDE TO CONTRACTING/FREELANCING

STARTER GUIDE TO CONTRACTING/FREELANCING STARTER GUIDE TO CONTRACTING/FREELANCING This guide has been developed by the Partners of Forbes Young and is meant to be used as an informative and useful resource for people new to contracting or freelancing

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

A Guide to Approved Retirement Funds (ARF)

A Guide to Approved Retirement Funds (ARF) & Guidance RF A Guide to Approved Retirement Funds (ARF) A Guide to Approved Retirement Funds Contents I m approaching retirement, what are my financial options? 02 What is a Financial Broker? 03 Why would

More information

Your future starts now. Sensible information about retirement planning from Zurich Life

Your future starts now. Sensible information about retirement planning from Zurich Life Your future starts now Sensible information about retirement planning from Zurich Life Zurich Pensions - Sensible Information Dear 30 year old me Imagine checking your post one morning and finding a letter

More information

Summer Budget 2015. Tech Talk

Summer Budget 2015. Tech Talk ADVISER FACTSHEET Tech Talk July 2015 Summer Budget 2015 In this Tech Talk, we briefly review some of the key announcements made in the Summer Budget 2015. In particular, we provide an overview of: A new

More information

Your Guide to Equity Release

Your Guide to Equity Release Equity release has enabled me to go on more holidays, purchase a new car and make some major household purchases. The service provided met our financial needs in an efficient and helpful way. John, Sutton

More information

Free Standing Additional Voluntary Contributions Plan Key Features

Free Standing Additional Voluntary Contributions Plan Key Features Free Standing Additional Voluntary Contributions Plan Key Features This is an important document. Please read it and keep for future reference. The Financial Conduct Authority is a financial services regulator.

More information

Chartered Accountants & Business Advisers

Chartered Accountants & Business Advisers Your Guide to Retirement Planning 2011/12 RITSONS hartered Accountants & Business Advisers www.ritsonsca.com Your Guide to Retirement Planning Retirement isn t what it used to be. In many ways it is better:

More information

ST. JAMES S PLACE INTERNATIONAL INTERNATIONAL INVESTMENT BOND

ST. JAMES S PLACE INTERNATIONAL INTERNATIONAL INVESTMENT BOND INTRODUCING THE ST. JAMES S PLACE INTERNATIONAL INTERNATIONAL INVESTMENT BOND THE ST. JAMES S PLACE PARTNERSHIP The St. James s Place Partnership is an elite group, made up of many of the most experienced,

More information

Securing your Future with PRSA S

Securing your Future with PRSA S Securing your Future with PRSA S NUIG Noel Hackett (QFA,MIB,Dip in Investments) Consultant Pensions Services New Ireland Assurance New Ireland Assurance Company plc is regulated by the Irish Financial

More information

SHELL CONTRIBUTORY PENSION FUND. Additional Voluntary Contributions Arrangement Explanatory Book

SHELL CONTRIBUTORY PENSION FUND. Additional Voluntary Contributions Arrangement Explanatory Book SHELL CONTRIBUTORY PENSION FUND Additional Voluntary Contributions Arrangement Explanatory Book July 2013 CONTENTS 1 Introduction 3 2 What are AVCs? 7 Why pay AVCs? 10 How do AVCs work? 12 What options

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

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

O P Q RETIREMENT & DEATH BENEFITS PLAN. For Employees of The OPQ Company MEMBERS' BOOKLET

O P Q RETIREMENT & DEATH BENEFITS PLAN. For Employees of The OPQ Company MEMBERS' BOOKLET O P Q RETIREMENT & DEATH BENEFITS PLAN For Employees of The OPQ Company MEMBERS' BOOKLET 2014 EDITION Reviewed January 2014 INTRODUCTION This booklet is an overview of the main benefits and conditions

More information

The Partnership Enhanced Retirement Account

The Partnership Enhanced Retirement Account For financial advisers only not for retail clients The Partnership Enhanced Retirement Account ADVISER GUIDE 2 ENHANCED RETIREMENT ACCOUNT Contents Introduction 3 The ERA an all-in-one solution 4 Benefits

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

Contribution Guideline

Contribution Guideline Contribution Guideline This guideline explains the rules surrounding pension contributions to a SSAS, the maximum amounts payable and the workings of tax relief. Please note that we do not give financial

More information

Group Additional Voluntary Contributions Plan Key features

Group Additional Voluntary Contributions Plan Key features Group Additional Voluntary Contributions Plan Key features This is an important document. Please read it and keep for future reference. The Financial Conduct Authority is a financial services regulator.

More information

With Our PRSA You Can

With Our PRSA You Can Live Life Your Way With Our PRSA You Can Making Your Money Work As Hard As You Do Contents Why Should I Plan For My Retirement?... 2 How Will My PRSA Work?... 4 How Will I Benefit From A PRSA?... 6 Investment

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

Elevate. Your guide to the Elevate Pension Investment Account. I need a pension that will look after me and my family

Elevate. Your guide to the Elevate Pension Investment Account. I need a pension that will look after me and my family Elevate Your guide to the Elevate Pension Investment Account 1 I need a pension that will look after me and my family What is Elevate? 5 What is the Elevate PIA? 6 Choosing Investments 12 Your options

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

FOR ELECTRONIC USE ONLY

FOR ELECTRONIC USE ONLY 2015/16 GUIDE TO... Retirement Planning Grimsby t: 01472 350601 Louth t: 01507 606111 Chartered Accountants Scunthorpe t: 01724 863105 Skegness t: 01754 761777 Forrester Boyd is a partnership operated

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

A Guide to Tax Efficient Investments

A Guide to Tax Efficient Investments A Guide to Tax Efficient Investments Need some help? Please contact your local office if you have any questions: London 020 7009 4900 Blackpool 01253 621 575 Bangor 01248 353 242 Carlisle 01228 515 224

More information

Retirement Account Plan Key features

Retirement Account Plan Key features Retirement Account Plan Key features This is an important document. Please read it and keep for future reference. The Financial Conduct Authority is a financial services regulator. It requires us, Standard

More information

PLANNING THE RETIREMENT YOU WANT

PLANNING THE RETIREMENT YOU WANT PLANNING THE RETIREMENT YOU WANT Charlotte Supply Chain Graduate HEINEKEN UK Flexible Retirement Plan Contents A reminder of... How the Flexible Retirement Plan works 4 The benefits 6 Consider what you

More information

University of Reading Pension Scheme

University of Reading Pension Scheme Human Resources University of Reading Pension Scheme Investing for Retirement Introduction After deciding how much to save for retirement, where to invest the contributions that you and the University

More information

Active Money Personal Pension Key Features

Active Money Personal Pension Key Features Active Money Personal Pension Key Features This is an important document. Please read it and keep for future reference. The Financial Conduct Authority is the independent financial services regulator.

More information

Protecting your lifestyle and your wealth

Protecting your lifestyle and your wealth Protecting your lifestyle and your wealth Life assurance Critical illness cover Income protection Key person and partnership protection Over 30 years experience providing independent pension advice to

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

MORE CHOICE MORE FREEDOM

MORE CHOICE MORE FREEDOM LOOK FORWARD TO MORE CHOICE MORE FREEDOM A guide to Income Release Pension Portfolio royallondon.com WELCOME TO ROYAL LONDON We re a mutual organisation and, unlike a PLC, we don t have any shareholders

More information

KEY FEATurES of LEGAL & GEnErAL S PEnSIon AnnuITIES.

KEY FEATurES of LEGAL & GEnErAL S PEnSIon AnnuITIES. PEnSIon AnnuITIES KEY FEATurES of LEGAL & GEnErAL S PEnSIon AnnuITIES. Helping you make the right decisions for your future INsuRANCe. savings. INVesTMeNT MANAGeMeNT. 01 Key features of Legal & General

More information

8th Bowles Symposium and 2nd International Longevity Risk and Capital Market Solutions Symposium

8th Bowles Symposium and 2nd International Longevity Risk and Capital Market Solutions Symposium 8th Bowles Symposium and 2nd International Longevity Risk and Capital Market Solutions Symposium Annuitization lessons from the UK Money-Back annuities and other developments Tom Boardman UK Policy Development

More information

retirement planning the retirement you want Heineken UK Flexible Retirement Plan

retirement planning the retirement you want Heineken UK Flexible Retirement Plan my retirement planning the retirement you want Heineken UK Flexible Retirement Plan Contents Get an overview of the Heineken UK Flexible Retirement Plan What is the Flexible Retirement Plan? 4 Your benefits

More information

Investment matters. Smart guide #3 Getting your fair share

Investment matters. Smart guide #3 Getting your fair share Investment matters Smart guide #3 Getting your fair share Produced in partnership with Shares magazine The value of investments can fall as well as rise and any income from them is not guaranteed and you

More information

THE GREYFRIARS PREFERRED RETIREMENT ACCOUNT (GPRA) A SELF-INVESTED PERSONAL PENSION (SIPP) KEY FEATURES DOCUMENT

THE GREYFRIARS PREFERRED RETIREMENT ACCOUNT (GPRA) A SELF-INVESTED PERSONAL PENSION (SIPP) KEY FEATURES DOCUMENT 1. Introduction: Before you proceed with your SIPP we want you to be sure that you know what the decision will mean for you; what the plan is, how it works and what the risks are. This key features document

More information

Your guide to. Equity Release. with no obligation

Your guide to. Equity Release. with no obligation Your guide to Equity Release Expert advice with no obligation Your introduction to equity release Your retirement should give you the freedom to do all the things in life you haven t had time for. However,

More information

Self Select Investment Guide move ahead

Self Select Investment Guide move ahead Self Select Investment Guide move ahead For members of The Barclays Bank UK Retirement Fund (the UKRF) 2 Self Select Investments move ahead Inside this guide Welcome to Self Select 2 Investments Choosing

More information

FOR ELECTRONIC USE ONLY

FOR ELECTRONIC USE ONLY 2015/16 GUIDE TO... Retirement Planning EVENS & CO LTD CHARTERED ACCOUNTANTS & REGISTERED AUDITORS YOUR GUIDE TO Retirement Planning Retirement isn t what it used to be. In many ways it is better: people

More information

KEY FEATURES OF LEGAL & GENERAL S PENSION ANNUITY.

KEY FEATURES OF LEGAL & GENERAL S PENSION ANNUITY. PENSION ANNUITIES KEY FEATURES OF LEGAL & GENERAL S PENSION ANNUITY. HELPING YOU MAKE THE RIGHT DECISIONS FOR YOUR FUTURE This is an important document that you should keep in a safe place. 02 KEY FEATURES

More information