Pension Advice Pages
Home > Pension Guides > Basic State Pension > Planning for Early Retirement

 

Pension Advice on Advisers with Pension Finder

 

We are a professional group dedicated to helping individuals find answers and solutions to their pension queries.

 

We provide a simple service that is committed to finding you a pension advisor with the relevant knowledge and industry experience.

 

pensions annuities
pensions
                   
£   Please enter the total value of your pension. If your enquiry relates to a new pension enter your desired annual contributions

pensions


pensions

 

 

 

 

The age at which you are expecting to retire
pensions
pensions

pensions

 

 


 

pensions


 

Our Privacy Policy - Terms and Conditions


pensions

 

 

pension-providers

first step

 

 

Our priority is to search out and select pension advisors that tick all the boxes.

U.K based advisors
FSA Regulated Individuals
Knowledgeable about pensions
Putting customer service first
Committed to your financial success

Your search for a suitable pension advisor could be over … Contact Pensionfinder today.

Pension Finder Services

Our targeted approach to finding pension professionals ensures you spend less time looking, and more time planning your retirement solutions.. Our service makes searching for and selecting an advisor simple and easy.

Appointing the right specialist pension advisor is such an important decision. Over the last few years we have assisted many clients to make this decision much easier. In 2011 we assisted over 600 people.

By using our Pension Finder Service, clients are then better placed and more focused to tackle more important detailed pension decisions involving risk, reward, investment decisions and product selection.

We help alleviate any concerns you may have by answering certain questions, including whether the advisor is regulated by the FSA or holds appropriate levels of PI insurance. You can then focus on the personal connection, whether you feel comfortable and confident in the advisor as an individual.

While the advisors focus on building long term relationships, our priority is to support a simple yet profoundly effective introduction. Clients and advisors alike can now get on with what they do best, advising and deciding on effective pension strategies, while building a stronger financial future.

Our Most Popular Pension Requests

Finding an advisor that can help you explore your personal retirement choices, about whether to Purchase An Annuity, invest in Income Drawdown or Phased Retirement Asking questions about which will be the most beneficial and understanding the pros and cons of each before investing.

We receive requests for pension transfer advisors that support individuals when comparing and contrasting one pension arrangement with another. This can either lead to simple internal changes to your existing arrangements or give consideration to transferring to a new pension provider.

Requests involving Group Personal Pensions (GPPs) are normally from employers that are looking to ensure the suitability, viability and efficiency of their current arrangement. Deciding on whether to transfer Group Personal Pension requires in-depth analysis, so get expert advice.

Finally, Self Invested Personal Pension plans (SIPPs) are becoming more popular as a flexible investment structure when planning for retirement. We receive many requests about how to transfer in to and how to get the most out of investing in a SIPP.

For - setting up a new pension, reviewing your pension, approaching retirement, looking into auto enrolment, and buying your annuity or entering income drawdown

Annuities: Immediate Vesting Personal Pension Plan (IVPPP) - Compulsory Purchase Annuity (CPA) - Purchased Life Annuity (PLA)

Free online quotes available to source the products and providers with the best rates and deals.

 

0
Planning for Early Retirement
September 20th, 2010 | Basic State Pension, Free Website Content

We all want to enjoy our retirement and most want to wind down in their later years. For some retirement does not mean 65 years of agel… you could be moving to a warmer climate, travelling the world, or just kicking back to relax much earlier if you prepare well.

Points to consider with early retirement

The rules on when and whether you can take early retirement vary, so find out what the rules are for your personal and/or company pension scheme(s).

Also, the Government has changed the rules governing when you can start to take your pension. After April 6th 2010 you will have to wait until you are aged 55 to start drawing a pension. If you want to retire sooner ,then you will need to act quickly – ideally should have been by March 2010.

Taking early retirement will mean that you will have fewer years to make pension contributions, so you may have a smaller pension pot. In addition, you will need income for longer, so your pension payments will be smaller as the fund has to last longer. To make up for these shortcomings you will need to increase your pension contributions and possibly National Insurance contributions.

Ideally you should start increasing your pension savings early (in your early 20s) to give you longer to make up for those years when you (and your employer) are not making pension contributions. This may involve sacrifice on your part – forgoing an expensive lifestyle to save, save, save.

What about the State Pension?

To get a full State Pension you usually need between 40 – 44 years of National Insurance Contributions, so you may want to think about boosting your NI contributions. Also, you won’t receive State Pension payments until you are at least 65, so don’t expect to rely on this to supplement your income prior to reaching 65. Moreover, the state pensionable age is due to increase in the coming years and, under current legislation, it will be age 68 by the year 2046.

Early retirement – is it right for you?

Of course early retirement is tempting, but you need to prepare or you could set yourself up for years of poverty. It can be much harder to find work when coming back from a false start retirement. Speak to a financial adviser to get the full picture about what you are entitled to. If retirement is still a long way off remember that it is never too early to start planning for retirement…

If you haven't found all the answers that you are looking for you can find similar content in the Basic State Pension, Free Website Content sections, contact an adviser at the top of the page, or you could try these related posts:

Early Retirement
Usually, occupational pension schemes set an age at which they expect their members to retire. This is known as the normal retirement date. With early retirement,...
Plan ahead if you want early retirement
We all want to enjoy retirement and make the most of our time when we’ve finally finish work.  And for some of us, this means giving up work before we reach 65. Whether...
Health Early Retirement
This happens when a member of a pension scheme takes early retirement because of ill-health or a disability. If they are a member of an occupational pension scheme...
It is not too early to start saving for retirement!
One mistake a lot of people make is to think that they can start thinking about saving later; that there is always more time. The reality with pensions is that the...
Added Years
This is when a member of a defined benefit pension scheme gains extra entitlement to pension benefits. Usually this is because the employee has decided to make...