Post Retirement

The decisions you make when you retire can affect your lifestyle for the rest of your life – you may well spend a quarter of your life in retirement.  That’s why getting the right advice on maximising the value of your pension pot when you retire is vital.

Here are some of the options available at retirement;

Lifetime Annuity – gives you a regular, secure income for life.  After taking tax free cash from the outset, the remainder is used to purchase an annuity. When you die the income usually stops but may provide a  spouses income.

Drawdown – a tax free cash lump sum is paid at the outset with the remaining fund invested to provide an income.  You can choose the level of income you want, within limits, and when you want it. With this type of plan when you die the balance of the remaining fund is payable to your beneficiaries subject to a tax charge.

If you live in Ulverston, Furness, South Lakes or Cumbria call 01229 585818 to arrange a free pension review or discuss your options with one of our independent financial advisers.