Pensions – A brief guide


Pensions can be complicated. Effective management of your pension will be crucial if you want to enjoy a comfortable retirement. We can help you both save for retirement and to manage your pension savings when retired.

Saving for retirement

Effective saving for retirement consists of saving a sufficient amount and then investing those funds in a manner that will meet your needs.

We can help you find out:

  • How your pension investment is performing
  • What pension payments you can expect in retirement
  • If your investments are still suitable for you
  • How much your pension is costing you and advise if there is a cheaper alternative

The need to understand the pension rules

Understanding the pension rules means you may:

  • Potentially save 20% tax on your pension withdrawal*
  • Plan to take an income level that more closely meets your needs
  • Convert small pension accounts into readily available cash

Pension rules change constantly and without sound financial advice you can be financially worse off. For instance if you have a UK pension and you reside in the Isle of Man then you will be taxed at 20%* in the Isle of Man on your “tax-free” Pension Commencement Lump Sum. Transferring your pension to an Isle of Man Self Invested Personal Pension (SIPP) can remove this tax liability.

The need for pension reviews

We find many prospective clients have not reviewed their pension investments lately. This means they often don’t know how the monies are invested and what pension amounts (income and tax-free amounts) they may get in retirement.

With a pension pot worth £100,000 an investment producing 2% per year over ten years would be worth just under: £122,000 if it achieves 2% net per annum but £163,000 if it achieves 5% net per annum

Taking a pension

When there are so many choices it makes sense to obtain professional advice. Making mistakes can be costly.



Act now to secure your financial future –  In reviewing your pension plans we can help you to get the best performance out of your chosen strategy, advise on Drawdown versus annuity and if needed set up the required product for you. For more specialist work we can advise on:

  • Employer Pensions
  • Executive Pension Plans
  • QROPS – i.e. Transfers from UK Schemes

 contact us today