RETIREMENT OPTIONS
What’s the process to achieve retirement?

The notion that most people have is that you (and partner?) will cease work and start to live off the financial provisions you’ve made during your working life.  For many people it’s never either straightforward nor synchronised. For example, if you’re married, your wife/husband/partner may already have reached state retirement age and be receiving the state pension, and perhaps your mortgage has just been paid off recently, so this reduction in financial drain may mean that you’re preparing to retire, but waiting for the other partner also to reach state retirement age before you then decide to draw on your private pension.  It may also be that one partner or other is being offered lucrative part-time consultancy work because of their skills and knowledge built up over a lifetime, which can be hard to turn down, particularly if you have offspring that need financial help. 

Additionally, you may have inherited a property from a deceased relative, so you have additional considerations in terms of tax, etc. So you can understand there’s an element of staged planning involved in any retirement, which is where we can help advise you in order to achieve a satisfactory outcome.  We’ve been advising clients for 30 years in this area of financial advice.

Please see our PENSION OPTIONS information booklet .pdf which contains a clear overview of your pension retirement options.