Your Vision. Your Success. Your Retirement.
What would your life be like if you had a financial strategy that was based on providing a lifestyle in retirement that is truly important to you, where your whole financial plan is working in harmony to achieve your goals?
If you are approaching retirement and want advice on making informed decisions about your accumulated funds; taking the maximum cash and right level of income, move through to retirement options page.
So of course you want to have a good standard of living when you retire. However, whilst planning ahead to your retirement you also want to live well now. The solution is good sound advice and a meaningful financial plan in place.
We aim to take the hassle and complexity out of the process for you, save you time and help you make smart, well informed decisions. We will build with you a robust and sound financial plan and we can review it with you each and every year, or more frequently if you so wish. The plan will utilise the tax allowances that are available through pension schemes. Pensions are very tax efficient with up to 40% relief on contributions. It makes good sense to take advantage of this tax benefit along with the fact that assets and growth within the pension funds are largely free of tax.
For basic rate tax payers, for each £1,000 you contribute HM Revenue & Customs will contribute an additional £250. Higher rate tax payers claim a further £250 tax relief through your Self Assessment return.
A pension scheme is simply a tax efficient method of holding investments, for example gilts, bonds, property and equities. Where and how and how your money is invested i.e. the asset allocation is a crucial element in achieving your investment goals. We spend a considerable amount of time on this part of your plan with you, the aim being to achieve the most efficient investment portfolio based upon your personal risk profile and the growth required to achieve the retirement income you want. The objective is to achieve your goal with least risk. Please click here to find out more about our investment process.
Therefore if the underlying investment plan is working correctly and you are maximising your tax relief than a sound pension plan should form an essential part of your planning.
There are now three types of private pension, all which allow you to build up a fund to provide towards a more secure and comfortable retirement:
Stakeholder pensions provide a simple, flexible, tax efficient way to save for your retirement often with lower charges than other pension plans.
Personal Pensions generally provide access to wider range of investments funds than stakeholder pensions allowing you to tailor your investment strategy, however the charges are a little more expensive than stakeholder plans.
Self Invested Personal Pensions (SIPPs) give you the opportunity to access a more innovative and bespoke retirement plan, providing you with more control over the way you save and invest for your retirement. You can invest in a wider range of investments, including shares, Unit Trusts/OEICs and commercial property. For company directors, partners and entrepreneurs, they can provide a link between business and pensions.
Contact us and we can talk through the choices and options available to you
Executive advisory service The Mackenzie Executive advisory service is a high-level pension review service for Directors, Professionals, Partners and Executives. It is provided on an individual and confidential basis with the prime objective of moving you towards your retirement goals effectively and efficiently. This service is designed to help enhance the rewards achieved from personal success in business. If you want to know more about how this service can help you contact us.
Corporate and company Pensions form an important part of the remuneration package. If you would like information about or want to discuss corporate or company pensions contact us and we can arrange an introductory consultation with a pension specialist.
Retirement planning is not a one-off task. Once your initial plan has been set up, we can review your plans regularly to help ensure that your plan remains on track. We recommend that you keep your plans under regular review.