| You have been saving during your working life and
are now beginning to look forward to your retirement.
Perhaps you have been a member of your employer’s
pension scheme, or you have been making your own arrangements.
It may be that you are considering “winding down”
and gradually retiring. Whatever your circumstances
there are decisions to be made as to how you take your
pension.
At retirement, depending on the fund value and the
type of scheme in which you built up your benefits an
income can be taken as a Scheme Pension from an occupational
scheme, buying a Lifetime Annuity either from the pension
provider or out on the open market or by drawing an
income from the funds through what is now known as Unsecured
Pension or Alternatively Secured Pension, for those
who are post age 75.
This can be arranged through some form of pension fund
withdrawal contract or a SIPP and has become increasingly
popular in recent years in providing flexibility as
you approach what may be many years of retirement, but
is not suitable for everyone.
All of us are different, and therefore the solutions
will be different depending on the size or your funds,
your own personal circumstances including your health
and whether you need to provide a pension for your spouse
or partner after your death, and how much of a risk
you are prepared to take if you leave funds invested.
You have choices and at Harris and Associates Financial
Consultants Limited we have experts that can help you
make your decision.
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