I am confused by pensions

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It is hardly surprising that this is a common remark. Since pension “simplification” was introduced back in April 2006 we have had unprecedented change after change culminating in the introduction of pensions freedom in April 2015.

Whilst freedom, options and choices are clearly a good thing the complexity they create can be overwhelming for the layperson.

So when retirement comes around how do you plan to ensure that you can live a happy retirement without having to worry about your finances for a period which could last 30 years or more?

The decision to purchase an annuity, or access flexi-access drawdown or a combination of these is not an easy one to make.

But help is at hand.

Granite Financial Planning are armed with lifetime cashflow modelling software which can help assess your options.

We can model different scenarios such as downsizing or incorporating state pensions when they become payable should you choose to retire before state retirement age.

We can also assess the rate of return you require on your pension pot and other assets assuming you are willing and able to take some investment risk.

Our aim is to help ensure pensions are no longer confusing but merely one of the products available for you to use to help you live your life without the fear of ever running out of money.

Granite Financial Planning’s Paul Gibson was the FT Money Management Financial Planner in 2012 and is recognised as a Retirement Planning Specialist by the Personal Finance Society.

Please get in touch for a no obligation initial chat.