Retirement Planning and Pensions Advice Devon

PERSONAL FINANCIAL ADVICE

FINANCIAL PLANNING FOR YOUR RETIREMENT

Retirement Planning and Pensions Advice Devon

Whatever you want from your retirement, you’ll want to enjoy it free from financial worries. Even if it’s still some years away, it’s never too early to start planning- in fact, the sooner the better!

There are two aspects to retirement financial planning:

• Firstly, how you create a retirement fund while you’re working (usually through a pension plan);
• Secondly, how you spend your fund when you retire.

PENSIONS

Retirement Planning and Pensions Advice Devon

If you’re still working, it’s important to consider taking out a pension. Many employers offer company pension schemes, and if they don’t already they will need to offer these by law in the next few years. Alternatively you can set up your own individual pension plan, which can offer flexibility and some tax benefits. We can help you consider your choices and make the right decision. Then we’ll make sure your money works hard… so you can relax.

NEARING RETIREMENT

Retirement Planning and Pensions Advice Devon

In the years before you retire we can review how your pension is performing to make sure it’s on track. That’s also the time to start thinking about how you’ll use your pension to fund your retirement – and you have choices!

You could:

• use your pension fund to buy an annuity – a plan to give you a regular income stream over a number of years;
• draw down a lump sum to start your retirement in style;
• phase your retirement – perhaps by working part-time for a while and only drawing some of your pension;
• take some money directly from your pension fund (called income withdrawal, or drawdown);
• consider higher-risk options, such as unsecured pensions and investment-linked annuities.

LONG-TERM CARE FUNDING

Retirement Planning and Pensions Advice Devon

The costs of long-term residential or nursing care can be daunting – as much as £36,000 per year. With our particular expertise in long-term care funding we can help make the right care affordable, for as long as it’s needed – giving peace of mind to individuals and families alike.

DEFINED BENEFIT TRANSFERS

In the past, many people who worked for private firms built up a company pension based on how long they had worked for the firm and how much they earned. The amount of pension they would get was guaranteed by the rules of the pension scheme, and so they were known as defined benefit or DB pensions. These defined benefit pensions have a number of advantages.

• Your pension lasts as long as you do, so you don’t run out of money.
• There is something for a surviving spouse after you die. The details vary from scheme to scheme
• There is some measure of protection against inflation, which helps to maintain the spending power of your pension (varies from scheme to scheme)
• Your pension is unaffected by the ups and downs of the stock market.
Despite all of these advantages, there are some downsides to having a pension of this sort, such as a lack of choice over when and how to take your pension.

So, growing numbers of people are considering whether to exchange their DB pension rights for a cash equivalent.

DB PENSIONS

Five reasons you may wish to transfer out of your DB pension.
and five reasons you may not.

MONEY ALIVE VIDEO SERIES

We have joined forces with Money alive to bring you a series of videos on the options available to members of final salary schemes.

Get in touch to book your free initial consultation.

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FINANCIAL Services we provide

Retirement Planning and Pensions Advice Devon

We can advise you on the things you’d expect, including Mortgages, Pensions and Equity Release and Investments, but we can also discuss your bigger ambitions and help you achieve these through your finances. 

PENSIONS

MORTGAGES

SAVINGS

EQUITY RELEASE

PROTECTION

BUSINESS SERVICES

Retirement Planning and Pensions Advice Devon

DB PENSIONS

Five reasons you may wish to transfer out of your DB pension.
and five reasons you may not.

MONEY ALIVE VIDEO SERIES

We have joined forces with Money alive to bring you a series of videos on the options available to members of final salary schemes.

For over 30 years Manning and Company has been giving clients trustworthy, proven and personal financial advice.

We provide a wide range of financial services that include Business Services, Equity Release Advice, Mortgage Advice, Protection Insurance Advice, Retirement & Pensions and Savings & Investments Advice

Based in Ivybridge near Plymouth, we’re a respected and well-established name in Plymouth and South Devon – but we also work with clients throughout the UK.

We provide financial guidance to individuals and businesses alike. We’re completely independent of any financial institutions, and we offer financial products from across the whole of the market – so our clients always get fully-informed, impartial advice.

You can Contact Us through the website or can reach out on our Facebook, Twitter, Instagram and Linkedin channels.