There are many options available to you as you approach retirement and thanks to changes to pension rules, investors now have increased flexibility at the time of their retirement.
However, when you consider that you could be spending more than 30 years in retirement, many factors need to be taken into consideration such as how much income will you need and what level of risk should you be taking if any, with your pension funds after finishing work. By considering all the factors when planning for retirement, you can effectively make the right provisions to ensure you receive the level of income you need when you retire.
- Lifetime Annuity - provides a secure, taxable income payable for the rest of your lifetime. Once set up, an annuity cannot normally be changed.
- Investment Linked Annuity - designed to give you the opportunity to obtain an income that increases during your retirement. These are linked to an underlying investment fund and contain an element of risk.
- Income Drawdown - Capped or Flexible - an option which may be a consideration for more substantial funds, or if your have multiple sources of income. These allow you to take a taxable income directly from your fund, leaving the remainder invested.
- Phased Retirement - an alternative option to converting the entire pension fund into an annuity or income drawdown in it's entirety. This allows you to take the benefits of your pension over time, either by setting up an a series of regular annuities or by gradually moving more money into Income Drawdown.
On retirement, you are normally given the option of taking a tax-free lump sum. You can normally take up to 25% of your pension as tax-free cash. Tax free cash is also known as 'Pension Commencement Lump Sum' and is potentially available on most pensions including those where it was not traditionally allowed, such as AVC's and Protected Rights funds.
Choosing the right mix of retirement schemes is not a simple process, particularly when there are so many products, providers and options available.
We recognise that the pensions world can be very daunting. We can provide specialist retirement advice and guidance on all aspects of retirement planning and how it interacts with Government legislation, taxation, means-testing and state provision including the State Second Pension (S2P).
Moor Investment Services have had many years experience in helping people plan for their retirement helping hundreds of clients in the South East with their pensions and retirement plans.
Whatever your circumstances,to find out how we can help you plan for tomorrow, today.
Looking for a more individual approach to planning your finances?
If you're looking for specialist financial advice and bespoke solutions designed to meet your current needs and future aspirations then let us help.
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What Our Clients Say
Richard has always taken the time and trouble to listen to my specific investment needs and I have been extremely grateful that he is, unlike most IFA's, not sales motivated.
Cooden, East Sussex
I have known Richard and Jane Moor for over 20years and would highly recommend them for all your financial needs. Two very discreet and trustworthy people. You will never be disappointed.
Richard and Jane were introduced to ourselves by our accountant to assist with pension planning. Their approach from the onset has been personal, yet totally professional throughout and we are delighted with the ongoing financial service they provide, leaving us confident to enjoy our retirement.
D.P. & M.S.
Richard at Moor Investment Services has been our financial adviser for a number of years. He has provided input on pension planning and given us investment advice. He has recommended thoroughly researched solutions which have proved invaluable.
D.G. & H.A.
Although our investment with Moor Investment Services Ltd is a small one, for us it has been a comfort to have a personal review each year with Richard. As we have no knowledge of the financial world, investing in this way means we do not have to worry about it.
Mr & Mrs. G.
Whatever your financial circumstances you can be assured of excellent, well researched advice from Richard and Jane. They are both highly experienced and knowledgeable but can explain things in 'layman's terms' if necessary and they are always friendly and personable.
Now that my husband is in a nursing home, your help with the financial side has been extremely welcome. I might add that the money that has funded his care is as a direct result of how our money was invested in the past from your excellent advice and skill.
Tunbridge Wells, Kent
Over a number of years Richard Moor has been my pension advisor. During this period he has provided me with accurate and independent advice, which has been very beneficial to my pension fund.
Mr. S.P. Cronan
Abaco Creative Consultancy
Moor Investment Services Ltd provided me with an extremely professional service, making the necessary effort to understand my personal and financial circumstances and combine this approach with a respect of privacy and lack of intrusiveness.
Hastings, East Sussex
Richard has taken all my financial worries away. No hours pouring over that tax return. I look forward to his visits, a cup of coffee, good advice - all sorted!
Tunbridge Wells, Kent