Retirement income planning – including Pensions
Planning for financial independence is one of life’s essentials, and your pensions are a key tool to get you there.
Let’s face it, at some stage in life we will wish to (or have to) stop working and so having enough financial resources at that time will be vital. It is widely accepted that no State provides enough retirement income, nor is that income necessarily payable at the age that you would wish to wait to receive them, either.
We think that the message is clear: planning and investing is, for almost everyone, the best way by far to ensure the most financially independent retirement, and one you can enjoy at a time that you choose.
How we work with you – your bespoke strategic retirement plan
Our process is designed to deliver clarity, structure and confidence about your retirement path. Depending on your circumstances and goals, our retirement income planning service can include:
- A full review of your existing pensions and retirement savings
- Advice on consolidation or restructuring where appropriate
- Modelling of future retirement income needs and options
- Tax-efficient planning using pensions, ISAs, or other investment vehicles
- Guidance on timing withdrawals and managing lifetime allowances
We create a personalised and strategic retirement investment plan designed entirely around your goals, financial situation, and long term aspirations.
The process begins with an initial meeting to find out a little bit about you. This includes your objectives, attitude to risk, the lifestyle you would like to maintain in retirement and more. From there, we build your individual and structured Strategic Retirement Plan.
Importantly, your Strategic Retirement Plan is not something we simply put in motion and leave. It requires regular review and careful monitoring to ensure it continues to reflect your changing needs. This forms part of our ongoing Financial Planning Service and is essential to helping you achieve your long term objectives.
As we are fully independent, our advice focusses entirely on what is most appropriate for you, keeping your interests at the centre of every recommendation.
We take great pride in delivering professional and impartial advice of the highest standard, offering the level of care our clients expect and value.
We know that your needs are unique to you. That is why we believe there is no one size fits all approach. With Patterson-Mills, you will receive a service like no other, wholly dedicated to you.
Up to 60% Income Tax Relief
Yes, that’s right, 60% income tax relief is possible on some pension fund investments. If you earn more than £100,000, click here to find out more.
How to get started
This service is designed for individuals and families who are seeking high quality and professional advice on managing their retirement strategy and pension assets. If you have £500,000 or more in pension or other investable assets, we would be delighted to assist you.
We aim to make the process as clear and valuable as possible. If you are looking for a more structured and informed approach to retirement planning, here is how to begin:
Get in touch — It all starts with a simple message. Get in touch using the button below and we will arrange a time to speak that suits you.
Meet with one of our qualified and experienced Advisers — In this initial meeting, we will explore your current financial situation, your retirement goals, and any concerns or questions you may have.
Receive your Strategic Retirement Plan — After the meeting, we will provide you with a personalised and structured retirement plan to help you make the most of your financial resources.
You are welcome to take time to consider the plan and ask any questions you may have. Following this, we hope you see fit to appoint Patterson-Mills Financial Planning to be there for you up to and throughout your retirement.
Supporting a flexible and fulfilling retirement
The message is clear, planning and investing for your own financial independence is, for most of us, by far the best way to try and ensure the most fulfilling retirement, at a time that we choose.
For UK residents, there are a number of tax incentives that make savings for the longer term very attractive.
The investment options that need to be considered are first the two key areas of:
1. Investment category
- approved pension plan – initial tax relief of up to 60% available
- the enterprise investment scheme (EIS) – initial tax relief of 30% available
- the venture capital trust (VCT) – initial tax relief of 30% available
- an investment property (or more than one) – commercial or residential – tax reliefs available
Additional tax incentives also apply to some of the above, including exemption from capital gains tax and also certain valuable capital allowances, amongst others. It is often the case that a combination of the above, tailored correctly to meet your specific objectives, is the preferred route to take.
2. Underlying investment
- lower risk fixed interest stock, including Govt. and Corporate Bonds
- commercial property – using open-ended or closed-ended collective funds
- residential property – using collective funds such as Real Estate Investment Trusts (REITs)
- equities – UK and international shares bought via collective funds, such as OIECs