Pension choices - Personal, Self-Invested or Occupational?

Retirement Pensions now and at Retirement
It is a well established fact that the average age of the population is rising in many western countries including the United Kingdom.

At the same time, the size of the workforce is in decline and traditional tax revenues, used to fund pension payments, have been in decline too as a consequence. With more and more people becoming eligible for a State Pension, and with less money available to pay for it, there is mounting pressure on UK Governments of whatever political persuasion to resolve the so-called 'pensions time bomb'.

The need for a pension in later life is obvious since most people would like to believe they could at least maintain the same standard of living that they enjoyed throughout their working life yet, without planning for retirement, this may be impossible.

There has been major changes to pensions legislation in recent years with many more changes to come including the introduction of the National Empoyees Savings Trust (NEST) which will involve every employer in the UK.

If you are about to retire it is vital that you take professional advice to ensure that the pension you have to live on when you retire is matched to your lifestyle expectations.

Many people fail to shop around and consequently miss out on the opportunity of obtaining a better level of income perhaps due to the availability of enhanced annuities from some of the specialist pension providers in the market.

We would be delighted to discuss these matters with you so feel free to contact us.