Almost 50% of women don’t have a private pension.
Will YOU be worse off when you stop work?
A Pension is a long term investment the fund value may fluctuate and can go down. Your eventual income may depend upon the size of the fund at retirement, future interest rates and tax legislation.
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Why have a pension? And what does it mean for your future?
Let’s be honest – we all want to retire as soon as we possibly can! But when you step back from your career or your business, life goes on.
The bills still need to be paid. We all want more freedom, maybe to travel and enjoy more of the things we love. And during our earning years, we can put away the ‘right amount’ to provide for the lifestyle we want.
This pot of money earns interest over the years and is worth more when we come to retire. We then draw out the amount we need – but this amount needs to worth enough to last the remainder of our life. Which, as we’re all living longer & longer, can feel rather daunting.
- Maybe you’ve got old pensions from jobs earlier in your career, but no idea what’s really happening with them.
- Maybe you haven’t got started yet & have no idea what the ‘right amount’ to put away is.
- Maybe you’ve been paying into your pension, but you’re not sure exactly what you’ve got in place. Will it be enough when you retire, to live the lifestyle you really want?
Whatever’s true for you, our friendly all-female advisors can help you get started with a new pension or review exactly what you’ve got in place for the future, with recommendations & advice.
Just leave your details & we’ll be in touch to talk it all through!
So what type of pension could you have?
Private pensions are funded by you and are a secure form of paying for your retirement. You have total control over who you choose as a fund manager and where your money is held.
This type of pension is normally accessed by anyone who is self-employed or runs their own business. Even if you’ve never had a pension before, it’s never too late to think about your retirement and how you can fund the lifestyle you want.
If you’re employed, employer pensions often include an option where your employer contributes towards it too. Some even match what you put in, which is an added bonus. However, you do not have any control over which company manages your funds.
It’s worth bearing in mind too that pensions are tax efficient - so if your payments come straight from your gross salary, you won’t pay any tax on them. If they don’t, you can still claim the tax back.
(If you’ve lost track of Employer Pensions from jobs in the past – this article will help!).
What about the State Pension?
Ultimately, a pension provides you and your family with security in later life. The State Pension at present is not enough for most women to enjoy the lifestyle in retirement that we’d like.
Why do you need a pension advisor?
Well – because we can support you to be in the best possible financial position when you retire!
Choosing and managing your pension can feel completely overwhelming. You’ll get independent financial advice from our all-female team, with recommendations & guidance to secure your financial future once you choose to stop work.
A communication or a financial promotion should not describe a feature of a product or service as “guaranteed”, “protect” or “secure” (as used above), or use a similar term unless:
(1) That term is capable of being fair, clear and not misleading description of it; and
(2) The firm communicates all of the information necessary, and presents that information with sufficient clarity and prominence, to make the use of that term fair, clear and not misleading.
This may not actually be the outcome and its use could be confused with having a secure pension income as opposed to a flexible benefit pension with no safeguarded benefits. Can you please reword.
How exactly can we help you?
We completely understand that your shorter-term financial needs may always feel like the highest priority (especially when you have a young family!). But it’s so worth starting payments into your pension pot as early as possible. Something is better than nothing. And who knows what will happen 30 years from now (or how the state benefits system will look by then!).
A Pension Review with Evolution Financial Planning can help you:
- Understand the size of your current pension pot;
- What it could produce for you in later life;
- And the ‘right amount’ to be adding to it, to support the lifestyle you want once you retire.
We’ll help you make sure your existing pension pots are the best option for you & your family. If not, you’ll come away with complete clarity about either moving them elsewhere or consolidating them.
Having all your pensions under one system can make it far easier to draw the money, when the time comes. It can feel far less confusing, when you don’t have to manage several pension pots – and you can save money in fees.
During your Pension Review, you’ll also get some basic financial education (for want of a better word – without ever patronising you!) and a simple understanding of the different options when it comes to investing in your pension.
If you then decide to go ahead with the advice and recommendations from your review, you’ll know exactly what your pensions look like. No more confusion!
Essentially, we’re in a great position to help make everything clear. We can help you through the whole pension process, dealing with all the paperwork for you. One more thing off your to-do list!
Book your Pension Review Now
This notice cannot disclose all the risks associated with the products we make available to you. You should not invest in or deal in any financial product unless you understand its nature and the extent of your exposure to risk. You should also be satisfied that it is suitable for you in the light of your circumstances and financial position. Different investment products have varied levels of exposure to risks and to different combinations of risks.
Our disclaimers are not intended to be fully inclusive of all relevant risks; we would strongly encourage to you ensure that you have read all relevant literature, and that you are comfortable that you understand all of the associated risks relating to an investment, before you decide whether or not to purchase it. Should you be in any doubt as to the risks involved, or to the suitability of a particular investment, you should seek professional financial advice.
Please note that investment values can go down as well as up and past performance is no indication of future performance.