Free Articles  >>  Business And Finance >>  Page 3607  >> 

Pension Advice to Rely On

Good, reliable pension advice needs to be impartial and independent, extremely well-informed and designed with only your own best interests in mind. The best way to secure just that advice is through the services of an independent financial adviser specialising in pensions planning.

The pensions market in the UK has grown incredibly sophisticated and complex, with very many different financial products to help individuals both to save for their retirement years and also to ensure that those savings are working the hardest for them. An independent financial adviser will be able to guide you around the bewildering array of pension products currently available, whether you are looking for suitable investments in which to build up your pension fund whilst still at work or for the different ways in which that fund can be used during your retirement.

Building the pension fund

Whilst you are working, you will be eager to build up a fund that provides for your retirement through a tax-efficient savings and investment scheme. That is the easy decision; the difficulty lies in deciding just how to do it! The choice will be between a stakeholder pension (probably the most popular low-charge pension, which can be purchased from a commercial financial services institution, such as an insurance company, a bank or a building society) or a personal pension (an individual contract with a pension provider to which you and, possibly your employer, contribute and which you can take with you from one job to another).

But that is not the only choice. You might want the flexibility and personal control over your pension investments given to you by a Self-Invested Personal Pension (SIPP); you might want advice about the company pension scheme of which you are already a member, or, if you are a director, senior executive or own your own business, you could use advice about an executive pension scheme. An independent financial adviser will be able to guide you through all of these options and help you arrive at the one that is best for you, together, of course, with any advice about transferring your existing pension plan to another.

Making the most of your pension fund

Once you have retired, the need for advice does not stop there. You worked hard enough to accumulate the funds, so the least you will want is the peace of mind that you are making the most of the benefits it can bring you.

Most people, for example, will be looking to convert the final value of their pension scheme into a regular, monthly income. But there is a wide variation in the performance of pension annuities and independent professional advice will help you secure the best value in your choice, say, between a standard annuity and a guaranteed annuity. If you are married, you might also want to ensure that your spouse benefits from your pension savings and will, therefore, seek advice on the best value widow’s pension scheme. Alternatively, it might be that you do not yet want to touch the whole of your accumulated pension fund, but are interested in a partial drawdown of the investment. On all of these many and complex options, the independent financial adviser is there to help.
About Author Sean Horton :

Sean Horton is a Director of Enhanced Wealth (<a href="" target="_blank"></a>), a whole of market mortgage broker and IFA specialising in mortgage advice and the associated areas of income protection, mortgage protection and mortgage life cover.

Article Source:
Article Url:

Article Added on Tuesday, July 22, 2008
Other Articles by Sean Horton

Where do I Get Pension Transfer Advice
We tend to live in a world where yesterday’s brilliant deal becomes rapidly overtaken by today’s even better bargain. With a long term investment, such as a pension scheme, where savings are designed to see us throughout our retirement, there are likely to be many occasions when we wonder whether a better deal is going to be offered elsewhere. That is when we will consider the option of a pension transfer – but before converting any such consideration into action it is essential to seek the...

Company Pensions in a Nutshell
Company pensions are an invaluable part of employees’ remuneration packages. They are a central incentive and motivation to staff and an important part, therefore, for successful retention and recruitment. This importance is recognised by the Independent Financial Advisers who help and advise employees and companies alike on the benefits of a company or occupational pension scheme. Types of occupational pension If the company offers an occupational pension scheme, this generally means that it...

What is Meant by Pension Drawdown
Some pension schemes – notably self-invested personal pensions, executive pension plans and small self-administered pension schemes – allow a contributing member aged between 50 and 75 to leave their pension savings invested in the fund and to take out a regular income rather than buy an annuity. This is known as pension drawdown or pension income drawdown The advantages The main reasons for taking a pension drawdown are twofold: if annuity rates are low, then the fund-holder can delay...

Pension Annuities What Are They
Pension providers manage investments on behalf of their clients who are saving for their retirement. When an individual client’s retirement date arrives, then a way needs to be found to convert the accumulated value of the savings (the pension fund) into a regular income for the remainder of the client’s life. This is done through a pension annuity. Simply, the savings in the pension fund are used to purchase an annuity. Buying an annuity Although the purchase of an annuity is therefore very...

Go it Alone With a Self Invested Personal Pension SIPP
If you find it unnecessarily restricting to be tied in to a pension company’s choice of investments, you might find the flexibility and freedom of a Self-Invested Personal Pension (a SIPP, as it’s usually known) attractive. The term is entirely self-explanatory in so far as you remain completely at the helm of every investment decision for your pension fund and still enjoy the income tax relief that is granted to all pension plans – that is to say, any money you are investing is invested before...

Pension Transfers Something For You
By their very nature, pension schemes are long term investments. The earlier you start to build up your pension, the greater the rewards when you finally come to retire. Although they are naturally designed to run over very many years of your working life, however, this does not mean to say that there are times when it might be useful to consider transferring from one scheme to another, more attractive and profitable scheme. Pension transfers make that possible. The main reason for considering...

Corporate Financial Advice For Your Business Too
There is probably a tendency to think of the Independent Financial Adviser offering help and advice only in the area of personal finances. But the role is not restricted just to the individual. Increasingly, the adviser is being called in for corporate financial advice to assist small and medium-sized businesses to achieve optimum commercial success. Critical business areas There are a number of key areas in which businesses can draw on the financial expertise and knowledge of the independent...

When You Need Independent Financial Advice
When you want advice about making the most of your money – ensuring that it works as hard as it can for you – then you will almost certainly want that advice to be independent, completely knowledgeable about all the financial products available, and for it to be advice that sets out the options so that you can make an informed decision, rather than be cajoled or persuaded into taking someone else’s preferred approach. This is the essence of independent financial advice. The need for good,...

How to Choose an Independent Financial Adviser
We tend to turn to all manner of people for advice and often take pot-luck on whether the person we have asked is especially knowledgeable, whether we can rely on them to be giving impartial and independent advice, or whether their answer starts with the phrase If I were you... When it comes to seeking reliable advice about making your own money work its hardest for you, however, there is no need to leave so much down to mere chance and the luck of the draw – you should consider choosing an...

Independent Financial Advisor
These days, most people with be familiar enough with the term to know that an independent financial advisor is obliged to give impartial advice to clients on financial services and products across the board of the entire financial services market. Most people will also have come to expect that that advice is generally offered free of charge. Perhaps fewer people will be aware, however, that although clients can indeed choose to receive free they can equally well choose to pay a fee for it. Why...

Click here to see More Articles by Sean Horton
Publishers / Webmasters
Article ID: 86357
DELINK URL from Authors Bio
REMOVE Article
Tell A Friend
Leave A Comment!
Download this article in PDF
Report Article!
Search through all the articles:

115 Users Online !
Related Articles:
Latest Articles:
Business And Finance >> Top 50 Articles on Business And Finance
Category - >
Advertising Advice Affiliate Programs Automobiles
Be Your Own Mentor Careers Communication Consumers
CopyWriting Crime Domain Names DoT com Entrepreneur Corner
Ebooks Ecommerce Education Email
Entertainment Environment Family Finance And Business
Food & Drink Gardening Health & Fitness Hobbies
Home Business Home Improvement Humour House Holds
Internet And Computers Kiddos and Teens Legal Matters Mail Order
Management Marketing Marriage MetaPhysical
Motivational MultiMedia Multi Level Marketing NewsLetters
Pets Psychology Religion Parenting
Politics Sales Science Search Engine Optimization
Site Promotion Sports Technology Travel
Web Development Web Hosting WeightLoss Women's Corner
Writing Miscellaneous Articles Real Estate Arts And Crafts

Disclaimer: The information presented and opinions expressed in the articles are those of the authors
and do not necessarily represent the views of and/or its owners.

Copyright © AwareINDIA. All rights reserved || Privacy Policy || Terms Of Use || Author Guidelines || Free Articles
FAQs Link To Us || Submit An Article || Free Downloads|| Contact Us || Site Map  || Advertise with Us ||
Click here for Special webhosting packages for visitors of this website only!
Vastu Shastra

Personal eMail Hosting Provided By AwareIndia

Company IDS