The Period After Full Time Work Should Be Fulfilling

Most of can expect to live for a further 20 to 30 years after we have retired. We do not want to spend those years living a life that is less fulfilled than we had hoped for, or worse still worrying about how we will make ends meet.

For those who have spent most of their working lives in one of the careers where 'final salary' pension schemes are the norm, there is not currently much to worry about. Your employer, usually central or local government or some other government backed organisation such as the police force or NHS, will have provided sufficient income for you in retirement for you to carry on living in pretty much the same way.

However, for the majority of us, the pension fund we have at retirement will be largely the result of our own foresight and effort. This may consist of benefits from an occupational or private pension scheme, a stakeholder plan, personal pension, or SIPP and will include a measure of State pension benefits. That fund needs to be at least several hundred thousand when we reach retirement age to provide us with anything like the standard of living we have enjoyed until then. For many higher earners the fund will need to be well in excess of £1 million.

However much we eventually accumulate, it is essential to make the best use of that when we reach the point at which we want to start taking the benefits, both in terms of cash sums and ongoing pensions. We can guide you through the options and make sure that you do not inadvertantly make the wrong choices.

If you would like to have a no-obligation discussion with one of our advisers about your pension planning please contact us on enquiries@arch-fp.co.uk or telephone 01483 204600 (if local) or 0845 3700 660 (local call charge only) and ask for Sarah Bond.

Nucleus SIPP

Now that we have SIPPs (Self Invested Pension Plans) which can provide a greater level of fund and asset choice, there is wisdom that it is time for everyone to review their existing range of pension plans to see if they could be consolidated into one of these.

For pension portfolios in excess of £50,000 we now favour the use of the Nucleus Wrap to hold such pension funds.

Arch Financial Planning Wins Top Award

At theNew Model Adviser Awards 14/15 January 2010 Arch Financial Planning Limited was named as New Model Adviser 2010 for the South East Region. Furthermore, at the Professional Adviser Awards on 21 January 2010 Arch Financial Planning Limited was Highly Commended in the Professional Adviser Baillie Gifford Financial Education Award. This is the third year that we have been shortlisted. For further information please refer to the Arch Blog.

Investment Proposition

If your investments seem to be rather unstructured and going nowhere you should have a look at our investment proposition for our clients and then get in touch to see how this could benefit you.

Get More From Your Pension

Did you know that by using the open market option when the time comes to purchase an annuity with your pension fund that you could obtain a higher pension for life? If you have had any health problems or you smoke or live in the right area the increase could be as much as 20%! Do ask us about this. You have nothing to lose.