Independent Financial Advisors - IFA Bolton, UK

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Planning Opportunities

Pension simplification has created many other planning opportunities, whether you are self- employed or within a company pension scheme, and whether you have any existing pension provision or not.

If you have old pension schemes which are no longer active, perhaps because you left the employer who provided the scheme, or if you have a pension contract you are not familiar with, you could be well advised to seek out advice about the possibility of transferring or at least optimising the benefits of these pension funds.

Also if you have a small pension fund or funds when you reach your planned retirement date, it is now possible you will be able to take out the whole sum as a lump sum, rather than buy an annuity. The limit for 2009/10 is £17,500, which equates to 1 per cent of the lifetime allowance.

We can help you decide what action to take. Questions include:
• How much should I save into my pension?
• How much can I save without incurring a tax penalty?
• What are the extra options under the new rules and are they appropriate to me?
• What are my options when I come to take benefits from my pension?
• Now the tax treatment for all types of pensions is similar, how can I tell which are best suited to my needs?
• Is there any action I ought to consider because of the rule changes to safeguard my benefits and make the most of tax breaks under the old regulations?
 
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