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PENSION ADVICE and RETIREMENT PLANNING

 

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   Pension Advice | Norwich |  Personal Pensions


Call: 01603 452686

 

       This is not just business - It's Personal!

 

 Topical Retirement Issues

 

It can be done!

In some cases the combination of the State pension and the proceeds from an occupational pension will be sufficient to cover the needs in retirement.

 

However, it should be borne in mind that with constantly changing legislation and the obvious dramatic shortfalls in the funds of many pension schemes it is wise to remember the old adage that: 'a guarantee is only a guarantee as long as the guarantor decides to stand by his guarantee'.

 

 

 

Nobody knows what the future will bring.

 

A Personal Pension scheme can offer you that extra amount of security and flexibility and ensure that it is you who are in charge and not some administrator at a pension office or an unknown fund manager investing your money as he/she sees fit.

 

Personal Pensions come in almost all shapes and forms ranging from very low-cost simplistic Stakeholder schemes via Personal Pension Plans (PPPs) to full-blown Self Invested Personal Pension Schemes (SIPPS).

 

There is no upper limit to the total amount of pension savings that you can build up, although there are strict limits on the amount of tax relief you can get.

With the vast number of personal pensions available and the ever changing pension rules, choosing the right pension for your retirement can be very complicated indeed.

 

A Personal Pension is comparable to many other investments with the caveat that there are tax-incentives on the contributions but also some restrictions on the access to your money.

 

What type of Personal Pension is right for you will depend on many factors including your current pension provisions, financial situation, you age, health, attitude to risk, dreams and aspiration to mention but a few.

 

It is well worth mentioning that Additional Voluntary Contributions (AVCs) towards your current occupational pension may be an option worth considering.

 

In the past many Final Salary schemes offered so-called ‘added years’ in return for AVCs. Although many have maintained this nomenclature what they offer is in fact a fixed annual sum for the rest of your retirement (akin to a lifetime annuity) and not an increase in your index-regulated pension - as implied by the name! So, it is well worth being vigilant!

 

Finally, it deserves to be mentioned that ISAs can provide an (often overlooked) source of retirement income. No, they do not have any tax-incentives on contributions but the do pay out in a tax-free manner.

 

In other words: 'With pension plans you get a tax-boost on the way in, but get taxed on the way out, whereas ISAs do not give you a boost on the way in but does not tax you on the way out either!'

 

So, there are plenty of options but the great art is to identify the combination which is exactly right for you and ensure that they get you as close as possible to where you want to get.     

 

 

I don't want to retire right

now - maybe next year, or

the year after...

But, can I afford to cut down

on my work hours already?

     find out more 
 

Is it a good idea to buy an

Annuity now or is it better

to wait?

Should it be a single or a

joint annuity?

     find out more 

 
retired couple

What is the right way to

arrange my Investments?

How much risk can I

afford to take?

How much income can I get?

     find out more 
   

 

 

LET YOUR MONEY WORK FOR YOU!

 

 

 

 

 

 

 

 

 

VISIT THE DEDICATED NFA INVESTMENT SITE

►►
 

    Specialist Advice Areas


     Regulatory and Legal changes

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  BE PREPARED...

Long Term Care is an issue that most of us would rather not think about. But should you, or your loved ones, need it later it can be VERY expensive if you have not prepared.

      Read More...

WHAT WILL I GET

FROM THE STATE?

Although you may be entitled to a full or partial State Pension it is important that you also get to know what other benefits and support you may be entitled to in your later years.  Read More...►

WHAT ARE POWERS OF ATTORNEY?

Not very many people are aware of what Powers of Attorney really are or How they Work? You need to know that they In many cases can be of critical importance in a difficult situation.  Read More...►

 

 

 PENSION CHANGES 2014

 
 

New rules allow increased flexibility for pension drawdown arrangements. But there are important aspects which need consideration.

   

   Read More...►

 

 PENSION CHANGES 2014

 
 

Is Income Drawdown a ticking time bomb?

Law changes and low Gilt yields can have a large impact on drawdown Portfolios.

   

   Read More...►

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You are always Welcome

to contact NFA for a free discussion

of your Personal Pension Plans, PPP

 

Phone: 01603 452686

 

 

e-mail: info@norwichpensions.co.uk

 
     

 

 

 

 

Norwich Financial Advice Limited  is authorised and regulated by the Financial Conduct Authority

and is entered on the FCA Register under FCA reference: 706645

Norwich Financial Advice Ltd. is registered in England and Wales; Company No. 8533929.  

Registered office: 74 Muriel Road, Norwich NR2 3NZ, Norfolk, England.

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