Whether you are 20 or 60 we are here to help you to prepare for your retirement
Our Retirement Planning service
Changes in legislation have changed how individuals can access their pensions and plan for their retirement.
State pension age is 66 and is rising to age 67 between 2026 and 2028. The public sector schemes are following suit, but the good news is that you can now prepare for this and structure your plans in such a way as to allow you to retire early with much more flexibility than ever before.
1
Analyse
We’ll take an expert look at your finances, and understand your retirement goals.
2
Prioritise
We will ascertain the level of funding you will need in order to achieve your retirement goals and suggest strategies for helping you to reach your target
3
Plan
We will help you to create a retirement plan and carry out regular reviews to ensure you stay on track and make the most of your money in retirement.
Before Retirement:
Its never too early to start planning and ideally at least 10 years before you retire.
To ensure you’re retirement ready, your Cornmarket Financial Services adviser will arrange to meet with you via phone call or videocall when you are at home or at work and will:
- Explain your existing pension and other entitlements
- Advise you on how to fund for your retirement in the most tax-efficient manner possible
- Explain how your retirement contributions can receive tax relief or reduce your overall rate of tax
- Give you an overview of how these might fit together with other retirement options available
- Review your existing Additional Voluntary Contribution (AVC), Personal Pension Plan or other retirement provision you may have.*Combining won’t be right for everyone and not all pension types can or should be transferred, hence why financial advice is so important for you.
At Retirement: 4 to 6 months before you retire
When you’re getting close, to help you make the right decisions we will:
- Give financial advice on the investment options available to you
- Provide advice on how you can get the most out of your AVC/Personal Pension Plan or other pension arrangements
- Advice on how you can increase your tax-free lump sum
- Discuss your State Benefits and other entitlements you may have in retirement
- Advice on how to make the most of your money in retirement with an aim to achieve the retirement you desire
- Advice on what to do with your retirement lump sum and how to incorporate it with your other investments/personal savings
- Help on putting together your retirement plan
After Retirement: at regular points throughout your retirement
If you purchase our ongoing advice service, we’ll be there throughout your retirement to give you support and to keep your finances on track we will:
- Review your savings and investments in the light of your view towards risk and the possibility of return in the current economic situation
- Provide you with information and updates in relation to the economic and market conditions from informed investment third parties
- Discuss your spending habits and the impact on your retirement
- Provide you with advice on the different options available for realising your retirement funds – tailored to you. For example do you need to have regular additional income or would ad hoc sums suffice?
- Advice on how to generate additional income to top up your pension if required
- Discuss your spending habits and the impact on your retirement
- Provide advice in relation to estate planning and inheritance tax
FAQS
Please select the statement below that best represents your situation.
You should be aware that by clicking onto some of the links on this page that you are leaving the Cornmarket Financial Services website. Please note that Cornmarket Financial Services is not responsible for the accuracy of the information contained within the linked site(s) accessible from this page.
I have no pension
The current turmoil surrounding pensions has left people with uncertainty and confusion. However, in the long term, pension funds generally grow in value better than many other forms of investment.
The earlier in life you start a pension fund, the longer you have to contribute to it and the longer the fund has to ride out market fluctuations. When you add in the generous tax allowances from the government, it’s hard to find a better way to plan for retirement than with a pension.
Call us now on 0345 355 3242 to arrange a meeting to discuss your pension planning.
I have a pension and want to top it up
Many people have exciting plans for their retirement – perhaps going on the holiday of a lifetime, moving home or taking up new hobbies. But these plans are unlikely to become reality for the many people who have not made adequate pension provision for their retirement.
Many Public Sector workers will have a shortfall on their maximum possible superannuation pension. There are a number of ways to reduce this shortfall and your Cornmarket Financial Adviser can help choose the most suitable method for you, tailoring the solutions to your specific needs and objectives.
The key to retirement planning is to start as early as possible. The longer your money is invested, the longer it has to grow! Delaying by even a year or two can make a big difference to the pension you could receive.
Call us now on 0345 355 3242 to discuss your pension arrangements further.
I want to review my pension provision
There has been a lot of uncertainty about pensions over the last few years and they are rarely out of the news. Since 2006, the government has changed the face of pension planning dramatically and the Superannuation Scheme is also going through a period of change.
You may have already done something to enhance your pension with Additional Voluntary Contributions (AVCs), Free Standing AVCs, Stakeholder Pension or a Personal Pension Plan. You may also have pensions from previous employment, out-with teaching.
These plans should be reviewed regularly to ensure that they are still suitable and on track to meet your requirements. A lot of older style pensions do not benefit from “Pensions Freedoms” , new rules that came in to force in 2015 offering more flexibility with regards to accessing certain types of pensions. It may be possible to switch these older style plans to a new more flexible retirement plan.
Call us now on 0345 355 3242 to arrange a review.
I am retiring soon and want to maximise my pension
Whether you are approaching retirement or you have recently retired, there are often many areas of concern.
It is not always easy to find someone who can help with Superannuation queries, maximising income from AVCs, and offers sound investment advice.
Some of the main issues we deal with involve investing your retirement lump sum for capital growth or to provide a regular income which can be fixed or flexible to help supplement your pension income.
An experienced Financial Adviser with an excellent working knowledge of the Superannuation scheme can discuss your requirements and make a firm recommendation based on your individual circumstances.
Call us now on 0345 355 3242 for a consultation.
How do I work out how much pension I might receive?
If the details on your statement are correct you can then use the online calculators to work out your pension.
Please note the figures provided will be based on current legislation.
This information is a guide only and should not be relied on as a recommendation or advice is suitable for you.
How will the proposed changes from the McCloud judgement affect me?
There are pension changes due to happen as a result of the outcome of the McCloud judgement. Please click on the link to find further information here.
How is my employer involved in my retirement process?
You need to check your contract for the required notice period that you need to give your employer.
