It is extremely common to accumulate numerous pension schemes throughout your working life. But having them dotted about – each one with its own charges, differing investments and rules – might not be in your best interest. As pension specialists, we are here help you understand what you already have in place and bring some order to your pensions – getting your retirement provisions working as hard as they possibly can for you.
The level of retirement income your pension will produce is partly determined by how much is paid in. However, the growth of the underlying investments and the charges that are deducted will also have a big effect on your retirement income. Unfortunately, too many people hold their money in pensions that are performing poorly and/or come with high charges and offer limited retirement options (like being tied to purchasing an annuity at retirement). Many people also have no idea as to how much income they can expect in retirement from their pensions and other income sources. By helping you with your retirement planning, and getting your pension savings working more effectively for you, we aim to give you a clear view of your likely position once you stop work. We will identify well managed pension investment options to maximise the potential growth of your pension pot, while reducing any unnecessary risk.
Modern pension legislation also gives you much more control and choice around how your pension is drawn, thanks to options such as pension drawdown. However, your pension contract also needs to have the right functionality to take advantage of the full options. Seeing as many decisions you make will be irrevocable, getting professional pension advice is an inherent part of successful retirement planning.
Our guidance aims to ensure that your pension investments are appropriate to your retirement goals and attitude towards taking risk. As part of this process we will review the performance of the investment managers that manage your pension savings to ensure that the investments are working hard for you. We will carefully review your arrangements and if we believe a simpler, modern solution is in your interests we will make recommendations for a pension transfer. As independent financial advisers (IFAs) we can consider options from across the whole market and make an unbiased, appropriate suggestion for your retirement planning.
Getting the most from your pensions is an ongoing process and will require continued pensions advice. We will monitor your portfolio regularly and recommend changes to the investment options as required. Your circumstances will also develop and our ongoing support will ensure that your pension savings keep up to speed with your circumstances and retirement plans.
If you would like to discuss your pension arrangements then we would love to hear from you. We offer a free initial consultation and a fair and simple fee structure if you decide to work with Roxboro.
Our services are intended for people with over £100,000 of investments such as ISAs, cash and pensions.