Retiring or claiming your pension

Pensions

Retiring or claiming your pension

If you’re thinking of retiring, but aren’t sure if you have enough saved up to provide the income you’ll need, then we can help

Do you have enough money to retire?

If you’re thinking of retiring, but aren’t sure if you have enough saved up to provide the income you’ll need, then we can help.

As part of our initial meeting, we’ll use that time to get to know you and what you’re trying to achieve with your money. It’s likely we’ll be able to give you a good indication as to the feasibility of your plans by the end of the first meeting.

Then, if you decide you would like us to provide you with advice, we’ll complete a detailed analysis of your situation and compare the options you have available to you.

What happens if I can’t retire just yet?

We can work with you to adjust your plans, as often there are different ways of achieving a similar result.

Or it may be that we provide you with information on what you need to do in order to get the retirement income you need, even if it means that retirement happens at a later date than you intended.

Either way, you’ll leave with a firm plan of action to give you peace of mind.

How do I know which option to choose?

There are a number of different ways of using your pension to provide you with capital and/or an income in retirement:

Annuities – which provide a guaranteed income for life, but lack flexibility.
Drawdown – where you’re in control over the amount of income you receive, but there is a risk your money could run out if you spend too quickly.
Uncrystallised Funds Pension Lump Sum – a full or partial withdrawal of your pension fund.

For some clients, the answer can be a combination of more than one of these options. We’ll help you decide which is the right solution for you.

Pensions are a long term investment. You may get back less than you put in. Pensions are subject to tax and regulatory change; therefore, the tax treatment of pension benefits may change in the future.

Retiring or claiming your pension

Pensions

Retiring or claiming your pension

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Crowood FS is a trading name of Richard Hall, who is authorised and regulated by the Financial Conduct Authority, entered on the Financial Services Register https://register.fca.org.uk under Firm Reference Number 807261.