Pensions & Retirement Planning

Pensions are confusing. 50 study hours is the recommended timeframe for our pension exam as financial planners. How can individuals be expected to dedicate enough time to understand them fully and most importantly apply this to their own circumstances? 

Through my study and experience I am an expert in the complex pension world. The benefits, investments, tax implications and accessibility of pensions varies considerably depending on the scheme. I help unpick their nuances and also help people at the start of the journey who need to set up new employer schemes or private schemes.

Will my pension be enough? 

You will have seen quotes online stating what fund provides a comfortable retirement. But we don't all live the same way and have very different spending patterns. In order to answer this question I use sophisticated cashflow modelling which helps to manage withdrawal patterns to provide peace of mind. This typically involves regular reviews to ensure everything stays on track. 

I don't know what my pension is invested in? 

I often see clients who are clued up on the investment of their non-pension assets but when it comes to pensions the same can't be said. I often use software to work out how your money is invested,  risk, cost performance. But most importantly I assess whether it is suitable for your retirement plans. 

The value of investments and an income from them can fall as well as rise and you may not get back the original amount invested.