Searching for personal pensions? People are living longer lives than ever before making adequate retirement provision ever more important. Moreover, dependency on the state for pensions is becoming more and more unstable with rising living costs. Personal pensions then are vital for those wanting to maintain the standard of living they have become accustomed to. Today’s blog will discuss why personal pensions are so important. We will explain why you should acquire the invaluable advice provided by Seven Bridges.
Personal pensions function on a ‘money purchase’ basis, whereby the money saved over a given period (usually each month or year) in your personal pension is invested and used in retirement. Do you have a pension plan that is going to fulfill your financial needs in your retirement? Is the answer is no? You may want to consider obtaining a personal pension to supplement your existing one. It could also act as your sole pension if you do not have one.
Personal pensions are essentially a long-term saving plan that are dependent upon the number of payments put into them over their duration. Once you turn 55, pension benefits can be taken. They are very beneficial in supplementing an existing pension in your retirement and are essential if you do not already have a state or company pension at all. You also have control over the level of contributions you make to it over the course of your working life.
For starterst, deciding when to obtain retirement benefits plays a part in how much tax you pay as well as how many benefits you receive. Furthermore, at what levels you obtain your pensions can also have a big impact on the remainder of your retirement fund. Making these decisions can be highly complex and should be taken seriously. Taking advice reduces the consequences of your decisions whilst increasing the potential for an effective retirement plan.
At Seven Bridges IM, we have qualified financial advisors with decades of experience in the wealth management industry. Besides being dedicated to building good relationships with our clients, we offer a free financial review to get you started on finding solutions to your financial challenges. Personal pensions are difficult to navigate, but at Seven Bridges IM we present a depth of knowledge making sure you receive the best advice out there. Moreover, we are transparent with our costs, and will tailor fit a plan that works for you.
Your financial goals are important to us here at Seven Bridges. We know how stressful retirement solutions can be. We are here to help you get the most out of your pension.