Retirement & Pension Planning
Pensions are about to undergo some of the most radical changes seen during our lifetimes, which will likely impact every UK pension saver in one way or another. In April 2015, the requirement to purchase an annuity will be relaxed, giving you much more freedom with your pension funds. Whether you’d want to accelerate the capital from your pensions or draw it over a longer period, the decision will need careful planning and specialist advice. At Hine, we are conscious that you will need assistance at this juncture as there will be a wide range of options available to you. Our job is to help you make sense of all these options to gauge what would be suitable for you.
When these changes come into force, pensions will no longer offer promises of future income that has to be used solely to purchase an annuity. They can be used to maximise tax relief if you pay higher levels of tax, extract capital from within a business without incurring corporation tax, and act as efficient planning tools when considering inheritance tax.
Pensions have always played a pivotal role in any financial plan and by talking to us, you can make sure that what you currently have, whether you are funding for a retirement which is some way off or you are at the point of needing to make a decision, we can guide you each step of the way to ensure you make the best of the options at hand.