Straightforward Pension Advice for Easy Planning

Pension advice fees are usually either percentage-based or on a fixed fee basis. Percentage-based fees are often 1-3% of the value of your pension, whilst a fixed fee rate might also vary based on the value of your pension. We use the percentage-based approach, on a tiered structure which reduces the percentage cost of our initial fee if your total value is over £200,000, and your first consultation is free*.

There can be benefits to consolidating separate pension pots into one. We give pension transfer advice to illustrate when your money could be doing more for you elsewhere. With some pots you might lose certain benefits if you take money out, or they might hold exit penalties, and you need to consider the different levels of management fees across different offerings. We’ll identify such positives and pitfalls, and let you know what type of consolidation will work best for your pension pot.

Yes, you can take your lump sum (generally 25% of your pension pot) from your defined contribution pension without withdrawing the rest. This is a flexi-access drawdown. You can access the rest as and when you need, but this 75% will be subject to tax. Check whether your scheme entitles you to an enhanced amount of tax-free cash.

We only advise on Defined Contribution or Money Purchase (“Standard”) pensions, not transfers of Final Salary or Defined Benefit pensions. If you have a Defined Benefit pension and need advice about separate pensions, investments or Inheritance Tax planning, we’d be happy to help with those areas.

The key is understanding your likely expenditure. To start, calculate your essential expenditure (likely a steady sum throughout). Then decide what standard of living you want - basic, or more luxurious? Will your lifestyle be as extravagant in retirement’s later years? Consider when you hope to retire, your pots’ worth (don’t forget State Pension), and you and your employer’s contributions. We’ll explore it all in your initial consultation.