The quality of the investments within your pension is important, because the final amount that you have in your pension pot, to produce an income for you when you want to retire, will depend greatly on the investment decisions you make and the performance you achieve, during the years of accumulation.

The media constantly tries to portray that the 'charges' are the most important aspect of what your fund will be in retirement, whilst there is some truth to that, what they do not get across well enough, is that it is actually the returns that you get that will make the biggest difference to your retirement income, and that it is you, not the provider, who is responsible for those decisions.

MULTIPLE PENSION FUNDS

Many of us accumulate a number of pension funds over the years which become difficult to keep track of, to manage and to understand what income you can expect to have from them when you reach retirement.

HOW WE CAN HELP YOU

Using an Independent Pension Adviser to manage and simplify your pensions and report to you on a regular basis, can make the process much easier for you and more profitable. 

  • We ensure that your pension is invested sensibly and ensure the investments within are updated according to the current investment climate.
  • We build up a history of performance for you which will help you when making decisions about what income you can afford to take, and which allow you to understand whether forecasts of what you can expect from your pension when you retire are realistic.
  • We also offer advice at retirement, for example on your income and tax-free cash options via an annuity or drawdown options
  • On divorce, a pension is often a surprisingly large part of a couple’s estate and therefore usually forms an important aspect in divorce proceedings and negotiation. We can advise on how to negotiate and proceed in any pension sharing


TRANSPARENT PRICING STRUCTURE

We have an extremely competitive and transparent charging structure which we believe is fair and valued and we are happy to compare what we do to anything else in the marketplace both in terms of cost and service. Our advice is collaborative, which means that we help you to make the decisions that you need to make to achieve your retirement goals.

Our aim is to offer clear, simple, sensible advice with an excellent, open and shared ongoing process of advice and planning, with very competitive and transparent fees and a highly personalised service to all our clients across Nottingham and the areas surrounding Nottinghamshire and across the East Midlands.

 PENSION CONTRIBUTION RULES

The pension contribution limit is currently 100% of your income but capped at £40,000. This includes both contributions paid by you and contributions paid by your employer.
If you put more than this into your pension, you will not receive tax relief on any amount over the contribution limit.
If you exceed the limit, you will be required to pay the tax relief received back on any amount over the contribution limit. This is called an ‘annual allowance charge’, which will be will be added to the rest of your taxable income for the year when your tax liability is calculated. Alternatively, you may be able to ask your pension provider to pay the charge from your pension benefits. In some situations, you may be able to reduce the charge by bringing forward some of your annual allowance from previous years.

If you earn less than £3,600 your annual personal pension contribution limit is £2,880 a year to which tax relief is added to the pension by the Government giving a total of £3,600.

If you use up all of your annual allowance in one year, it may be possible to contribute more using unused allowances from previous years and still receive tax relief. You can ‘carry forward’ unused annual allowances from the three previous tax years, starting with the earliest available year.
To use Carry Forward:-
- You must have had a pension during the period that you are claiming the unused allowance.
- you cannot receive tax relief on contributions in excess of your earnings in the current tax year.

High earners may be affected by the ‘tapered annual allowance’ which may affect how much pension tax relief can be claimed. If your adjusted income (your income plus pension contributions) is over £150,000, your annual pension tax relief limit is reduced by £1 for every £2 of income you earn above £150,000 in a year.
The maximum reduction is £30,000 which means that anyone earning over £210,000 will have their annual allowance capped at £10,000.
When the tapered annual allowance applies, it is still possible to carry forward unused annual allowance from previous years to a year where the taper applies. However, the amount of unused annual allowance available when carrying forward from a year where the taper has applied will be the balance of the tapered amount.

GET IN TOUCH

Our Independent Financial Advisers are always happy to meet at our clients' preferred location and time and to have detailed initial discussions with no obligation.

Please contact us by calling 0115 967 0888 or email us at This email address is being protected from spambots. You need JavaScript enabled to view it.