Whether you’re saving for old age, about to retire or already have, you need to give your pension some attention following the announcement of the new pension freedom reforms. Perhaps most important of all were the changes announced in the 2014 Budget, which mean many more will now be able to retire and withdraw money from their pension without buying an annuity.

The new pension savings market gives people greater power over how they spend, save or invest their retirement pots post–6 April this year, which is a positive, but it can be overwhelming. The breadth of the reforms means hardly any aspect of retirement finances is left unaltered. It’s an empowering period for investors – but also challenging. For people planning for retirement in the new world of pension freedoms, there are both risks and opportunities – from passing on your pension to loved ones, to making the most of tax relief.

Regardless of the life stage you have arrived at, it is important to receive expert and professional financial advice on your pension plans and requirements. Whether you need to set up a pension or review existing retirement planning strategies, we can advise you to help you make the most of your retirement opportunities.

 

The Financial Ombudsman Service (FOS) is an agency for arbitrating unresolved complaints between regulated firms and their clients. Full details of the FOS can be found on its website www.financial-ombudsman.org.uk