Pensions
With the advent of Stakeholder and the more recent
legislation, the pensions market has become more complicated
than ever.
New
legislation now allows many more people to contribute toward
their own retirement
provision and carries with it beneficial tax breaks.
For personal pensions
and for members of company or occupational schemes there
are many special provisions that make making decisions
about how you plan for retirement much more difficult.
Even at the point of retirement the options available
are far more wide ranging. As well as buying an annuity
you may wish to consider the possibility of Phased
Retirement and, or Pension Fund withdrawal (Income Drawdown).
Even the simplest way of taking the income from your pension
throws up a multitude
of choices. For example,
- Do you want a level income for
the rest of your life or one
that increases each year?
- Do you need to ensure that this
income or some of it passes
to your spouse or partner after you die?
- Would you like
your initial level of income
to be guaranteed to be payable for a certain length of
time even if you and your
spouse or partner has died?
You may even qualify for a better level of income if you
have, or have had health
problems.
As you can see, the need for professional advice on this
area is crucial and at Bradshaws we are happy to help,
please contact
us today to arrange an appointment.
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