Many of us today are not saving enough for retirement. The Government have estimated that there is currently a £27 billion savings gap in the UK today (Closing The Savings Gap, ABI July 2002). This means that there may not be enough in your savings pot to support your retirement plans.

As a result many of us will need to do more to ensure that what we are saving towards our retirement will be enough to fund the lifestyle we want when we retire.

Whether you are planning to provide a pension income in the future or you are nearing retirement and simply need advice as to what to do with you pension plans now,we can advise you on the best way forward.

Reviewing Your Existing Arrangements

Recognising the shortfall in savings for retirement the Government introduced in April 2001 a new Stakeholder Pension (SHP).

The SHP was initiated to offer a low cost pension arrangement that could be easily purchased without the need for financial advice. However, the effect was also to reduce the costs involved in taking out a pension arrangement through an insurance company. As a result most pension plans set up more than 5 years ago will generally be less cost effective than those offered now.

Reviewing your existing plans can often reduce charges and improve the projected benefits to retirement. What is more this can often be done at little or no direct cost to you.

Planning for your future

Pension plans remain the most tax efficient way of saving for your retirement. Contributions receive tax relief at your highest marginal rate and the fund that accrues grows in a largely tax benign environment. But which pension arrangement is best for you?

Taking into consideration your existing financial position we are confident that our advice will exactly meet with your objectives.

Self Invested Pension Arrangements

For funds in excess of £50,000 greater investment flexibility can be achieved by use of self invested pension arrangements. This is an area of specialism that we feel will provide exciting investment opportunities as you gain access to areas such as commercial property and institutional fund management.