Planning a pension is easy with the right advice

WITH more and more people getting to enjoy longer and longer retirements each year, the big question that you have to ask yourself is – have I sufficiently prepared myself to fully enjoy my post-working years?

The important thing to think about when it comes to your retirement plans is having a sustainable and regular income, which means that you must have your pension plan in order so that you can fully enjoy what should be a hugely enjoyable period of your life.

At the marginal rate, you will be able to receive tax relief on what you’ve already saved – with tax-free funds building up until retirement – when you get a portion of your fund tax-free.

Again, setting up a pension might seem like a daunting prospect, but again there are a wealth of professional advisers out there who are happy to assist you with everything you need. You may opt to do it through your company in the form of a company scheme, an executive pension, or you may go the personal route with a personal pension plan.

Nothing in life is certain especially when it comes to careers so if you are unfortunate enough to be made redundant, your pension scheme is wound up or you just decide that a career change is needed, professional financial advisors can help you to deal with all of these challenges.

Given the amount of preparation that goes into preparing for your retirement, working with an advisor is a very worthwhile use of your time and a great exercise in maximising your pension’s potential.

In many cases it’s the traditional annuity route, or income for life, that will apply to you. But remember that there is also plenty of space to explore options such as Approved Retirement Funds. Regardless of whichever route you opt for, a professional planner is there to put you on the right path.