Retirement Planning

Have you started
thinking about retirement?

If retirement is fast approaching, it pays to put a plan together and get your finances in order. Retirement planning isn’t just about how much your pension pots are worth, but assessing your savings and assets can help to deliver a comfortable retirement.

Our retirement planning service can help you get a holistic view of your current and future financial situation. Your financial adviser will provide trusted advice that could help you achieve a comfortable retirement.

Learn more Make an enquiry

Make an enquiry

Work out your
retirement income

Knowing how much money you will have to enjoy is vital in retirement planning. You should do this at least two years before your planned retirement day, but the earlier you can do this, the easier planning for retirement can be.

Check your state pension forecast – Many people think they will automatically get a full state pension. A state pension is calculated by the amount of National Insurance contributions you have made, and to get a full pension, you will need to have contributed 30 years. It’s a good idea to get a state pension forecast, and you can do this at the GOV.UK website.
Add up your pensions, savings, and investments – As well as your pension, it’s worth checking all your savings and investments (including ISAs) and totalling up their current values.
Get a property valuation – Your home is a valuable asset. Getting your home or other properties valued could provide an extra boost to your potential retirement-income through equity release.

Budgeting for
your lifestyle

There are several factors to consider. You may have income from part-time employment; equally, you could choose to give up work altogether and tick off the items on your bucket list.

Downsizing the family home may be an option for income in retirement. Moving to a smaller home could release the equity you have in your property, and also could be cheaper to run.
You may want to help children or grandchildren financially by paying for university fees or helping them with a deposit for a home of their own. You may also have to plan for a time when you might need to pay for help around the house, and for the likelihood of needing medical and nursing care in your later years.

More about retirement planning

Clear your debts

When planning for retirement, it’s advisable to try and be as free of debt as possible when you reach retirement. Your income is likely to go down when you retire so any fixed repayments like a home mortgage, credit card bills or car loans will take up a more significant share of it.

If you have money to spare, pay off the debts that charge the highest interest rate first. Using this strategy is the most efficient way to clear your debts.

Many people use any tax-free pension cash to help clear debts such as their mortgage or loans. By doing can help you to prepare for retirement and enjoy any future pension income, rather than paying big bills at retirement age.

However, if you belong to a defined benefit (final salary) pension scheme, taking a lump-sum payment could be complicated or expensive, so always consult with a financial adviser.

Make an enquiry

Peace of mind

We work with all major UK pension providers, ensuring your retirement is in experienced hands.

Our retirement planning service can advise on:

Pension Annuity

We can advise on the most suitable annuity for your circumstances and search the whole market to find you the best deal. By checking and assessing all annuity providers, we could get you more money in retirement.

Advised Annuity

Pension Consolidation

Moving your personal pensions into one policy could potentially make it easier to plan for retirement and reduce the chances of losing track of your money. We can advise on whether pension consolidation is in your best interests and if you can save money when it comes to pension drawdown by consolidating your personal pension.

Pension Consolidation

Pension Drawdown

Our retirement planning service can advise on the best options for drawing down your pension. The service could include making the most of tax-efficiencies, searching the market for a better fund and effective management plans to help make your money last in your retirement.

Pension Drawdown

Retirement Planning

Whether you have ten years or 2 years before you want to retire, we can help and advise on the best strategy to maximise your retirement funds. We’ll deliver all your options and whether buying an annuity or pension drawdown is the best for you.

Retirement Planning

What our clients say

Pension Works helped me transfer a pension from a DB to a SIP explaining all the relevant considerations for me to make an informed choice. I was given several different options with a range of outcomes to suit my requirements. Excellent service. Would recommend to anyone wanting to move their DB pension.

Geoff Willett - January 2020

My experience was very good, very fast. Explained things in simple language. Always contactable. Very efficient.

Wills Brady - November 2019

Excellent people to deal with, had lots of 'brick walls' put up before me PW team were there all along - many thanks

Russell Thomas - November 2019

I have found the service offered by Pension Works to be so professional. The timely manner in explaining everything made the whole process easy to understand. I would recommend Pension Works to anyone who requires this type of service.

Steve Lawrence - November 2019

A proper company, that does what it says it will do, and not just tick boxes! A really,genuinely, good,helpful and friendly company, I cannot praise these people highly enough. After years of being fobbed off by a so called pension provider, this company came up with a solution and outcome within weeks of my initial contact.Thanks Alistair,et al.

Chris Oram - November 2019

Excellent company, I dealt with James who was professional, thorough and very helpful/knowledgeable. I would not hesitate to recommend Pension Works to anyone seeking Pension advice.

David John - January 2020

Took me some time to find a pension advisory company that could help provide me with the assistance I required. Have received excellent service from my advisor and been a pleasure to deal with. Fees are a bit on the high side, but been well worth it for the quality of service I’ve received.

Mr McNulty - January 2020

I found Alistair to be very pleasant and informative, he took the time to explain everything to me about my pension plan and am pleased to have had the opportunity to discuss my future plans with him in such a clear way.

Rosalinde Valente - November 2019

The help that I received from Pension Works was outstanding. I felt that nothing was to much trouble, and I was treated with courtesy and respect throughout the whole process.

Steven Rowe - January 2020

Very easy to deal with. Advisor was excellent, very knowledgeable, supportive and friendly.

Alison Douglas - January 2020

Don’t Delay
Start planning for retirement.

The earlier you start our Retirement Planning service, the sooner you can begin to look forward to a comfortable retirement. The last thing you will want to discover when reaching retirement age is that despite saving into your pension, poor investments have left you short.

Our recommendations may include moving your personal pension to a more suitable fund, advising where you could make extra contributions and provide you with the options for pension drawdown or buying an annuity.

Make an enquiry

Convenient Advice

Unlike traditional Financial Advisers, we aim to be more flexible and available when you need us. Our service is telephone and email based, allowing us to work for you at a time that is most suitable for you. This flexibility gives you access to one of our fully qualified and FCA regulated Independent Financial Advisers in the comfort of your home and without the need to book an appointment weeks in advance.

Although we are an online and telephone business, your details and information are fully secure. Any data you provide through our website is encrypted and also shielded with multiple layers of security for your protection.

As a forward thinking online & telephone based business, this enables us to keep our fees low, so that we can pass those savings on to you, hopefully taking you closer toward the retirement you are planning.

Make an enquiry

About us

Retirement planning experts – ensuring your retirement is in experienced hands

ISO 9001 accredited – meeting the international standard for quality management

5 Star Trustpilot rating – consistent positive customer feedback

Independent & transparent – we are not tied to a single pension provider

Authorised and regulated by the Financial Conduct Authority – for your
peace of mind

*Defined Contribution Pensions*	These are ‘Pot of Money’ pensions where the benefits provided take into account the value of the fund at retirement. They can be personal pensions or Occupational Pensions. There are no guarantees as to what pension will be provided. This will be a reflection of contributions made and investment growth.
*Defined Benefit Pensions*	These offer the promise of a guaranteed pension at retirement which reflects the length of service with an employer. It will be based on either the Final Salary or Average Career Salary of the employee. Providing the company is still in existence, there is no investment risk for the pension receiver. This type of pension is becoming less frequent.
*Private Pensions*	This is a generic term for pensions that are not workplace schemes.
*Group Personal Pensions*	Employer-sponsored schemes – each member has a personal pension plan, and their contract is with the pension provider. The employer’s role solely is to select the scheme provider, decide if there should be any restrictions on fund choices and take contributions from the employee’s pay and forward them with employer contributions to the pension provider.
*Self-Employed Pensions*	A private pension arrangement or personal pension is taken out by a sole-trader or self-employed worker.
*SERPS Pensions*	State Earnings Related Pension (formerly Graduated Pension and subsequently State 2nd Pension or S2P) was an additional element of State Pension for employees. The amount of pension was linked to the employee’s salary. SERPS was abolished in 2016 when the flat rate State Pension was introduced.
*Personal Pensions*	Private pensions are contracts between the pension member and an insurance company or another pension provider.
*SIPP Pensions*	These are personal pensions where the member has a much wider choice of investments, including commercial property and single company shares.
*Stakeholder Pensions*	Personal Pensions with a set of rules that impose amongst other things a maximum annual management charge (AMC), low minimum contribution levels (£20 per month) and an appropriate Default fund.
*FSAVC Pensions*	Private pension linked to an employer’s Defined Benefit Scheme but separate from the Scheme’s internal Additional Voluntary Contribution (AVC) arrangement – largely defunct since the rules were eased several years ago, allowing people to contribute to both personal and employment schemes as they wish.
*Money Purchase Pensions*	This is another name for Defined Contribution Pensions.

Retirement Planning

Have you started
thinking about retirement?

Work out your
retirement income

Budgeting for
your lifestyle

Clear your debts

Peace of mind

Our retirement planning service can advise on:

Pension Annuity

Pension Consolidation

Pension Drawdown

Retirement Planning

What our clients say

Don’t Delay
Start planning for retirement.

Convenient Advice

About us

Make an enquiry

About us

Information

Helpful Information

Retirement Planning

Have you started thinking about retirement?

Work out your retirement income

Budgeting for your lifestyle

Clear your debts

Peace of mind

Our retirement planning service can advise on:

Pension Annuity

Pension Consolidation

Pension Drawdown

Retirement Planning

What our clients say

Don’t Delay Start planning for retirement.

Convenient Advice

About us

Make an enquiry

About us

Information

Have you started
thinking about retirement?

Work out your
retirement income

Budgeting for
your lifestyle

Don’t Delay
Start planning for retirement.