Pensions & Retirement Planning

Retiring early usually means a longer retirement to fund and fewer years of contributions to build the pot in the first place, both of which change the maths considerably. It also affects when you can access pension funds, since there are minimum ages that apply before certain benefits become available. We model your specific numbers against your target retirement age, factoring in other assets like property and investments, so you know realistically what age is achievable rather than working from a generic rule of thumb.

An annuity gives you a guaranteed income for life, in exchange for giving up control of the underlying capital. Drawdown keeps your pension invested and gives you flexibility over how much you take and when, but carries the risk that poor market returns or withdrawing too much too soon could erode the pot faster than planned. Many people use a combination of both, an annuity to cover essential costs and drawdown for everything else. The right balance depends on your wider assets, your health, and how much certainty you want.

From April 2027, most unused pension funds and death benefits will be brought into the value of your estate for Inheritance Tax purposes, a significant change from the current rules. For many people, this means a pension can no longer be relied on as a straightforward way to pass wealth to the next generation free of tax. We're already reviewing client plans against this change, looking at how it interacts with your wider estate and what, if anything, should shift in how you draw down or pass on pension wealth.

Consolidating can make a portfolio easier to manage and review, but it isn't automatically the right move. Some older workplace pensions carry valuable guarantees, such as protected tax-free cash or guaranteed annuity rates, that would be lost on transfer. We review the specific terms of each scheme you hold before recommending consolidation, so you keep any benefit worth keeping and only bring together the pensions where doing so genuinely works in your favour.

It can. Once your total income passes a certain threshold, the amount you can contribute to a pension each year while still getting tax relief starts to reduce, down to a lower minimum for the highest earners. This catches a lot of senior professionals by surprise, particularly where bonus payments push income over the threshold in a single year. We check where you sit against the taper each year and plan contributions accordingly, so you get the relief you're entitled to without an unexpected tax charge.