Independent Pensions Advice
“Starting to save into a pension is one of the most important financial decisions of your life, and you need good advisors around you. Every day you delay is reducing the income you will have in your retirement – don’t put your pension off any longer! In the world of pensions, there is a saying: “It’s the first pound you save, that earns you the most.”
Gareth Flanagan, Principle First Financial Advisers
Pension advice is essential, when considering all the complex aspects of pension planning. When setting up your pension, we will listen to your plans and aspirations for your lifestyle in retirement, and create a pension that will make sure you attain those goals.
Planning your retirement involves not only considering how much of a pension pot you would like to have built, before your working life is over. You must also factor in the rate at which inflation will depelete the real value of your savings, and make allowances for the considerable difference in the buying power of your money in several decades’ time. Only our experience and market knowledge bring all these skills to your table.
Request pension advice from our experts or call 0800 678 5929
Check your current pensions provision
Good pensions advice should assess your existing pensions provision, first of all. This may consist of just the state pension, or perhaps you have a company pension scheme provided through the workplace. Many who were regarding the state pension as the keystone of their personal retirement planning are suprised to learn that the basic state pension currently provides an income of just £4,953 per year, equal to just £95.25 per week. With regard to a workplace pension, quality pensions advice will include a ‘forecast of benefits’, which will clarify what your company scheme is likely to deliver.
In addition to these options, there are a number of private initiatives you can take to underpin your retirement planning. Good pensions advice is particularly important if you are self-employed, or have no workplace pension in place.
Free pension advice
At Principle First we offer free pension advice based on a system of identifying the risk profile of our clients. In a structured discussion, our pension advisers identify each client’s taste for risk in their investments, on a scale from very conservative (investing with low risk to preserve the value of their funds) to taking more risk with a hope of greater returns. We use a points-based system and categories featuring six investor types: very defensive, defensive, cautious, balanced, moderately aggressive, and aggressive. This enables us to help you place your investments in funds where you will feel comfortable.
Check your risk profile here or call 0800 678 5929
The choice of pension type is equally important. There are various types of private pension schemes available, each with its own particular character and flavour and again, good pensions advice is essential.
Why independent pension advice?
Advisers at the high street banks and building societies are ‘tied’ advisers, in that their pensions advice can feature only their own products. At Principle First, our status as Independent Financial Advisers guarantees independent pension advice where we are not ‘tied’, but can search the entire marketplace to find the pensions solution perfectly matched to the individual client.
Part of your pensions advice should also cover your desired age for retiring, and what lifestyle and ‘buying power’ you would aspire to in your retirement. Your adviser can then calculate how much you would need to be saving today, to realise these goals.
In order to keep your retirement planning on track, not losing sight of your desired lifestyle and investment goals, it is important to review your pension with your financial planner at least once a year. Considering that your pension is probably the most long-term product in your financial portfolio, regular pensions advice is essential.
Request expert pension advice here or call 0800 678 5929
