Most experts agree that state pensions alone are no longer enough to support the costs of living after you retire. There is also a lot of talk about a pension’s gap. Given this context, it is vital to plan for your financial situation in later years as soon as possible.
It is important to take into consideration personal arrangements, corporate schemes, Small Self-Administered Schemes (SSAS), Self-Invested Personal Pensions (SIPP), group personal pensions and stakeholder pensions, as well as looking at your other forms of investments such as, Individual Savings Accounts (ISA), bonds and property.
Accompanied with the above, Beacon Wealth Management Ltd also offer guidance on other ways to make the most of your pension benefits i.e. income drawdown and phased retirement.
According to the Government every company has to arrange their own pension scheme. Automatic enrolment for these began in October 2012 with larger companies. Despite everyone else being required to follow suit shortly, many are still unaware of what is truly required, whether their current pension scheme complies with the new guidelines and why it has even been enforced.
Beacon Wealth Management Ltd are trying to help companies understand just this, and are offering free initial company pension reports which will state when the changes will affect your company, what you need to do and what will happen if you do nothing.
Related topics; Employee Benefits.
Contact your specialist for advice.
Beacon Wealth Management Ltd
Tel: 01480 869466
Financial services are offered under Beacon Wealth Management Ltd, a separately regulated company.