Planning for retirement is one of the most important decisions you will make in your life.  We all hope for a comfortable and financially secure retirement.  It may seem fair to expect a financially sound retirement following a successful career, but the truth is that without good financial planning, hard work alone does not bring a secure future.

Pensions are a great way of saving for your old age.  The money you put in is invested and builds up in a pot, so later on in life you can then access this. At the time you are able to take money from your pension pot, the first 25% will usually be tax-free with the remainder being taxed as income.  It is the primary methods by which many people support themselves in later years and to a large extent determine the quality of life they will have in retirement.  It should therefore not be overlooked.

There are different options to suit different individuals depending on their own circumstances.  Understanding your options gives you the confidence to make informed decisions.

Just like any other investments, the value of your pot could go down as well as up so you might not get back what you put in. You would need to keep track of how your pension is performing and make changes to suit you.

Tax and reliefs will depend on your individual circumstances and tax rules can also change.

The number of options and pension schemes available to you can be overwhelming.  At Iceni Financial Advisers, we can help you through the maze of information and make bespoke recommendation suitable for your circumstances.

Contact us for a free initial consultation.

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