Pension planning is an afterthought for many people. The government do provide a state pension – but this will provide you with a minimal income.
And with the average life expectancy increasing, your retirement fund may have to last you 30 or 40 years
Rising life expectancy and financial crisis, left many final salary pension schemes under-funded causing them to close and be replaced by defined contribution schemes.
The closure of many schemes and the introduction of pension freedom has led to many members considering the alternatives to drawing a pension via their employers’ scheme.
Have you accumulated numerous pensions over your working life from different employers? Unless you have only ever had one job, then most of us will have more than one pension.
Managing and tracking the performance of all your pensions can be cumbersome and time consuming job, but long-forgotten pension plans left unchecked could be under-performing and not giving you the best return.
When its time to retire, should you buy an income (an annuity) or draw an income from your retirement pot? Prismatic Wealth will advise you the best route.
Divorce is probably the last thing you want to worry about, however, since 2 in 5 marriages end in divorce, the splitting of pension assets is a regular occurrence and we can give you the best advice and guidance if you need it.
A SIPP is a bespoke offering tailored to a client’s individual requirements.