Advice in retirement

The pension freedoms introduced in 2015 mean that you now have more flexibility and control to manage your retirement income than ever before. But whatever plans you have for this exciting new phase of your life, you’ll want to make sure your money lasts for as long as you need it to.

Pension flexibility means that you can change how much income you need, or how you want to take it, as your own plans and lifestyle changes. That’s a bonus.

The potential downside is that there’s a simply dizzying choice of pension products out there. Plus there are some areas that aren’t within your control, such as inflation rates and tax regulations. But with expert financial planning and guidance, we can help make sure you make the most of later life. And have enough to leave money to those you love.

You may find it helpful to see some of the FAQs around retiring that we get asked:

  • Can I increase the amount of income from my capital during times that interest rate are low?
  • What can I do to protect my pension from rising inflation?
  • My amount of income tends to fluctuate. How can I make it consistent and also tax-efficient?
  • Can I reduce the risk of investing at the wrong time or in the wrong thing? It seems such a lottery.
  • How do I create an income in retirement that fits with my views on risk, but will last my lifetime?
  • I’ve put aside some extra capital in case I need long term care. How can I minimise my Inheritance Tax liability on it?
  • I want to gift money to my grandchildren each year for their education, but they’re too young to look after investments. What should I do?
  • Is there another way to help my loved ones, apart from gifting?

We can help answer any one of those questions, and many other areas of financial planning that you might feel unsure about. There are ways you can optimise your personal financial situation, especially around tax planning, and we would be happy to take you through them.

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 initially invested.

Equities do not have the security of capital which is characteristic of a deposit with a bank or building society.

The levels and bases of taxation and reliefs from taxation can change at any time. The value of any tax relief depends on individual circumstances.

Got a question?

If you would like to speak to us about a particular issue or wish to find out more about the specialist advice services we offer around financial planning for the retired, please get in touch.