With life expectancy increasing, you are probably looking forward to the prospect of a longer retirement. But a longer retirement means making your pension income go further, and that can be challenging. We can help.
Here are some practical steps you can take:
1. Keep your tax bills to a minimum
How you take benefits from your pension can affect the amount of tax you pay.
2. Consider deferring your State Pension
Retirees can defer their State Pension and get a higher income when they claim it later on.
3. Top up your pension
Boost your pension savings now, so that you can benefit from current rates of tax relief.
4. See if you qualify for higher annuity income
If you have health problems, you may qualify for an ‘impaired life annuity’, which can offer much more income than a standard annuity.
When it comes to retirement planning, professional financial advice will really add value.
Book your wealth check today and relax tomorrow.
Call us today on Oakham 01572 759759 or Stamford 01780 437500 to arrange an informal, no-obligation meeting – at a time and a place to suit you.
The value of an investment with St. James’s Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up. You may get back less than you invested.
The level and bases of taxation, and reliefs from taxation, can change at any time. The value of any tax relief depends on individual circumstances.