Your retirement options

With all the coverage in the national press over recent months, you will surely be aware of the pension reforms that the government introduced. Ever since the announcement, the newspapers have been full of stories about what the reforms will mean for Britain’s retirees.
The range of options available to you for taking your retirement benefits are vast. But although greater freedom and choice is always welcome, the new, wider range of opportunities also has the potential to be confusing. And as with all things, the greater the range of options, the greater the danger of getting it wrong.
As well as gaining greater access to your pension savings, there will be a dazzling array of new products available from pension providers for you to consider, alongside those already available. It’s easy to see where the confusion can arise. Here are some things to think about:

•Do I need a secure guaranteed income for the rest of my life – an annuity?
•Do I want to go into income drawdown and withdraw the money gradually from my pot?
•Are there any priority debts that I’d like to repay with the lump sums I can take on retirement?
•Does a reliable, predictable and safe income matter most, or can I afford to take on some risk?
•What are the tax implications of some of my options?

There’s no doubt about it: change is in the wind. One thing hasn’t changed though: it’s more important than ever to be sure you’re getting the most out of your retirement income. That’s because your money will have to last you for the whole of your retired life – which, with life expectancy going ever upwards, may be for a lot longer than you think. Understanding what your income needs will be now (and in the future), and knowing how to achieve your goals, can be difficult. As is knowing where to turn for trustworthy, impartial guidance.

Making the right decisions for your future

Although the headlines about pensioners buying Lamborghinis may have caught your eye, what you may not have heard about is the guidance guarantee that is being launched by government. This is designed to provide people with clear, balanced information on their retirement choices. But as this is guidance and not advice, it may well create more questions for you, making it important that you seek further advice. If you would like to speak with one of our associated financial advisers, please let us know.

We will provide a comprehensive overview of your options to enable you to make informed decisions for your future. Fortunately, at Retirement Professionals we have many years experience, and can help you to avoid any confusion, and make sense of the changes.
We provide professional and friendly support and all the options available to you will be explained in jargon-free, plain English.

Time to take action

It’s important that you start thinking about your options now. Any decisions you make may take some time to put in place; so taking action now can help avoid any delays to your plans for the future.
Call us on 0800 098 7050 or email for further information regarding your options. Retirement Options now and April 2015.

We look forward to assisting you further in the not too distant future.

The Retirement Professionals team

Retirement ProfessionalsYour retirement options