Building a secure future

THE Queen’s Speech was light on pensions last week.

There was no commitment made to ending the triple lock guarantee on the state pension as outlined in the Conservative Party’s Election manifesto.

Not a whisper about a proposed clampdown on the banning of calls from fraudsters promising untold riches – but in reality only wanting to get their hands on your hard-earned savings.

And more importantly, nothing about whether the Government intends to reform the way we are encouraged to save for retirement through a pension. Reform of tax relief on pension contributions that has been on the cards for the past two years but has been put on the shelf for political (and electoral reasons).

Although some pension experts believe an overhaul of tax relief is still on the cards – it could come in the Chancellor’s autumn Budget – the pensions landscape will not be changing in a hurry.

Despite much government meddling in recent years, a pension still remains the best way to accumulate long-term wealth. No other savings vehicle offers better incentives to save, rather than to spend.

Yet tax incentives alone will not ensure your chosen retirement fund will deliver the outcome you require. Funds need to be fit for purpose – and built to last.

In this eight-page special report, we look at all the key decisions you must make to put your retirement finances on track – as well as how best to extract an income from your pension at retirement.

We hope it will help you build a pension fortress resulting in a retirement underpinned by financial security.