Pensions

The fact is that people are (on average) living longer and longer and can therefore expect to enjoy many years in retirement. The full new State Pension is currently around £168 per week (£8,700 per annum), whilst the average full time salary in the UK was recently quoted at £30,000 per annum.

For those not lucky enough to be members of a good employers' pension scheme, the need to build up a significant pension fund - and one that will generate a reasonable level of income for potentially many years - has never been more important. Many people who are in company schemes would still benefit from additional pension savings.

Following the recent 'pension reforms' many of the previous 'barriers to saving' have now been removed, with much greater flexibility in terms of how and when individuals can take their retirement benefits. Contributions to personal pension plans also benefit from generous tax reliefs.

In addition to setting up appropriate pension plans for our clients, we also offer a review service for existing pension plans to review performance and the underlying costs of the scheme. Many older pension plans have higher 'annual management charges' than the new breed of pension contracts - and this can have a significant impact on the amount available at retirement.