For some, it will still make sense to take the benefits on offer from an employer’s scheme. But for an ever increasing number, it is now up to ourselves to decide how we want our retirement benefits.

This choice provides the opportunity to select options which offer the best terms or provide a different way to take your benefits. But, with choice can come complexity. Our expertise and personal service can help. If you are approaching retirement and want an expert on your side, just get in touch and we will guide you all the way. We will help guide you with:

    – The level of income you need in retirement

    – Your tax position – Way’s to withdraw funds effectively

    – Whether to take Tax free cash or income or a combination

    – Remaining invested during retirement

    – What inheritance you wish to pass on

Fixed Solution

Conventional annuities provide a guaranteed income in return for a capital payment. With pension annuities, the income is guaranteed to be provided throughout life. No matter how long you live, your annuity income will continue to be paid.

This guaranteed income is attractive to many people and conventional annuities are still a popular choice for UK retirees. As contract terms are fixed at the outset and cannot be changed, it is vital to shop around for the best deal before you buy. IWP clients benefit from a research service, so this work is taken care for them. The annuity rates on offer vary between providers. Now, with niche providers providing enhanced rates for certain groups of people, the difference in rates is getting wider.

Flexible Solutions

Some of the advantages of conventional annuities are also their pitfalls. For example, it is only because changes cannot be made, that guaranteed terms can be offered. But, because changes cannot be made, conventional annuities do not provide flexibility. With retirement now lasting longer and longer and with changing demands to cater for, there has been a significant growth in flexible solutions.

Flexible retirement products provide the potential for continual investment growth. They can pay out any tax-free lump sum available and defer income. Alternatively, income can be drawn directly from your pension fund. They can also be used to provide death benefits to your dependents.

Rest assured, our retirement service can assess all suitable options and provide clear information on any recommendations.