Longton Financial Services/Investment Specialist/Retirement Planning/Lancashire/Preston
Financial Advisor Lancashire
Investment Specialist Lancashire
Investment Specialist Preston

If you are to enjoy your retirement, financial security is paramount to enjoying your life after your working career. This security can be achieved by adequately funded pension provision and this may be combined with other investment options. Some of your options for pension provision are summarised below:-

Stakeholder Pensions – simple pensions introduced in April, 2001 to encourage more people to plan for their retirement. An individual and their employer are able to contribute lump sum, a monthly contribution or a combination of both. There is generally a restricted range of investment funds available.

Personal Pensions – similar to Stakeholder Pensions; with a wider range of investment funds generally available.

Annuities – an income purchased by all or part of your pension fund at any time of your choosing from the age of 55.

Unsecured Pensions (USP) – this may also be known as ‘Income Drawdown’ and is an alternative to purchasing an annuity. Your pension fund remains invested and it provides you with an income. This may be accessed from the age of 55. The requirement to purchase an annuity before reaching the age of 75 has been removed.

Phased Retirement – this is a way of accessing part of your pension fund by using some of it to purchase an annuity or unsecured pension.
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