Financial Services Pension Planning
- Details
- Category: Pension Planning
Using the latest technology and information provided by you, we can calculate the required contribution, and find the most suitable provider for you. Other options, such as ISA’s can be taken into account for your retirement planning needs. After all, will you be happy with the State provision ?
There are other considerations such as “Income Draw-down” and “Phased Retirement” which may be an issue, but, enough of the technicalities for now, if you do not feel comfortable with your planning, This e-mail address is being protected from spambots. You need JavaScript enabled to view it. or call us on 01480 477774.
One in four people in Britain don’t have any retirement savings
The latest research from AEGON Scottish Equitable shows that many people are overly optimistic about how much retirement income they’ll get.
1,425 people between the ages of 30 and 65 were asked about their plans for retirement.
On average, people said they wanted to retire on £15,000 to £20,000 a year. To do this, they would need a pension pot of around £425,000 to £566,000.*
However, the research also showed that:
- 40% of people don’t have any pension provisions at all
- of those who do, 73% don’t know the current value of their pension plans
- only 1% of people who knew the value of their pension said it was worth £300,000 or more
- 61% of 41 to 50-year-olds thought their pensions were currently worth £50,000 or less
Do you know what your pension is worth or how much income you will have in retirement? Why not call us and let us analyse your needs and provision, it may be that a simple switch of plan could increase your retirement wealth or you may find you are not contributing enough towards your retirement.
It is worth remembering that with life expectancy increasing all the time your retirement pot may need to last nearly as long as your working life.
*Figures are for illustration only and assume a male, retiring at 65, with a 1% annual management charge and 7% growth. Figures are quoted in today’s terms.
