DON’T ASSUME THAT THE MINIMUM IS ENOUGH

Auto-enrolment has increased pension savings for millions of people, but the 8% minimum payment may not provide you with the retirement lifestyle you desire. As a result, it is critical to plan for a retirement lifestyle. We can talk about how much money you could have in your pension pot in the future so you don’t find yourself in a situation where you have an income shortfall.

DON’T LEAVE YOUR PENSION POT UNLOVED OR NEGLECTED

You may not want to discuss your pension plan every day, but dismissing pensions as boring is a mistake that grows more serious over time. While this may be difficult at the moment, steps like topping up your payments, especially if you are in your 20s, 30s, or early 40s, can make a significant difference due to the snowball effect of compounding.

Understanding whether it is workplace or private, how to get more ‘free’ payments from your employer or the government, or how to use it to pay less tax (such as through bonus sacrifice) could make a significant difference in your long-term finances.

Please contact us for more information on how we can help protect your future financial well-being and the options available to you.

A PENSION IS A LONG-TERM INVESTMENT NOT NORMALLY ACCESSIBLE UNTIL AGE 55 (57 FROM APRIL 2028 UNLESS PLAN HAS A PROTECTED PENSION AGE). THE VALUE OF YOUR INVESTMENTS (AND ANY INCOME FROM THEM) CAN GO DOWN AS WELL AS UP WHICH WOULD HAVE AN IMPACT ON THE
LEVEL OF PENSION BENEFITS AVAILABLE. YOUR PENSION INCOME COULD ALSO BE AFFECTED BY THE INTEREST RATES AT THE TIME YOU TAKE YOUR BENEFITS.