Will you be able to maintain your current lifestyle on the state pension alone? If not, you need to ensure that you have an additional income arranged for when you reach retirement. This income can be acquired by arranging a pension.


What is a pension?

A pension plan is a long-term savings plan, where regular amounts and / or once-off lump sums are built up into a fund for retirement. The amounts saved into a pension are called ‘contributions’. A pension plan is one of the most important investments you are likely to make in your lifetime.

The importance of having a Pension Plan

Have you ever wondered what you might do when you stop working? Let’s face it we all have! The reality is however that the majority of us will need to save a significant amount just to maintain our existing standard of living in retirement. With advances in modern medicine and improved standards of living, people are generally living longer and can look forward to 20 or 30 years in retirement. This is a long time in which to enjoy the finer aspects of life. Work priorities can be replaced with relaxing, enjoying new hobbies and spending more time with family and friends. Whatever your goals, one thing is for certain, you will wish to maintain the standard of lifestyle that you enjoyed while you were working.

Nobody wants to feel restricted or impoverished in retirement but this may be the reality for many people if they do not take the time and make an effort to adequately plan for their retirement. This means thinking about your pension and saving the right amount into it from an early age.

The fund that your pension is invested in plays a huge part in the performance of your pension fund – this should be closely looked at.

If you are close to retirement it is vital to examine all options that suit your personal circumstances to maximise the amount of tax free cash and retirement benefits. Davis Financial Services have taken it upon themselves to be informed fully on the revenue guidelines and pension regulations. That is why we consider ourselves experts in the field of pensions and retirement planning.

Close to retirement and want to get tax free cash?

Many clients who are at retirement age or indeed within 10 years of retirement age have been referred to us to review their existing pension arrangements. We have noticed that the issues that are coming up more and more are the same concerns for all clients and there is a vital need to be informed of the many areas of pensions in order to make your pension work for you.

We found that clients had similar unanswered questions in relation to their pensions on retirement, for example :

  • Can I retire early?
  • Do I have an option (s) when taking pension funds?
  • Do I have to retire?
  • What happens my pension when I die?
  • Can I have more than one pension?
  • What can I do with pensions from previous employments?
  • What fund should my pension be in?
We can help you prepare yourself for a pension worth having.

Call Davis Financial Services to get a comprehensive analysis of your pension needs and an overview of any pensions you already have in place.

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