Retirement
Retirement schemes are essential and must be set up during your working years in order to provide adequate income later in life.
Due to the fact that government schemes are often unsatisfactory, an increasing number of individuals and companies are making private, supplementary arrangements.
We can help you plan for your retirement, by assessing your current assets and building a portfolio that will provide a realistic level of income while minimising your tax liability.
Overseas Pension Transfers
Do you have deferred benefits held within UK Occupational Pension Schemes as a result of former employment, or have paid-up individual pension arrangements? If so, it is important to remember that even if you are residing outside the UK at the time the benefits are payable, they will still be fully liable to UK income tax. Our members can help you export your pension.
When can I retire?
Many people envisage a retirement age of 65 (men) or 60 (women). This is in line with previous State Retirement pension regulations. Recently the State Retirement age has changed to 65 for all women born after 6 April 1955. For earlier retirement, additional planning would be required.
Under normal circumstances, benefits from private pension plans cannot be drawn before the age of 50 or over (men or women), except in the case of certain occupations which provide for early retirement, e.g. sports professionals and others.
