It’s never too early to start your pension planning. However, it can be a complicated area. We’re here to help you start your pension planning and get you the retirement you deserve.
A pension is a long term investment. The fund value may fluctuate and can go down, which would have an impact on the level of pension benefits available. Pension income could also be affected by interest rates at the time benefits are taken
Pension savings are at risk of being eroded by inflation
The tax treatment of pensions in general and tax implications of pension withdrawals will be based on individual circumstances, tax legislation and regulation, which are subject to change in the future
The state pension age has been gradually increasing, meaning you’ll need to work for longer before you can retire. In addition, final salary pensions have almost disappeared and the real value of the state pension is decreasing.
In short, if you want to have money in your retirement, you need to take care of your pension planning today. It’s never too soon to start looking at pensions and investment strategies. To do that, you need to understand your options and start building financial security.
Setting goals is essential to creating a viable pension plan. It will help you manage your money, make solid financial decisions and provide financial security in later life. Of course, we appreciate life often gets in the way of pension planning and savings. That’s why we offer personalised advice to help you create the most effective pension plan possible.
When it comes to pensions, the best idea is to start early. There are several options worth pursuing. For example, paying National Insurance contributions will help build your state pension. Investing in a workplace pension, if possible, is advisable as your employer will also contribute. If you have spare money, a private pension can offer an additional stream of income.
There are also options when it comes to taking your pension. These include withdrawing cash, opting for income drawdown or buying an annuity. We can help you understand the options, how best to mix them, and what returns you can expect.
Lynas Vokes has decades of experience managing finances and assisting with pension planning. We have a dedicated team ready to discuss your financial goals. This will allow us to create a workable pension plan and make sure you are aware of all the details.
The right balance is different for everyone. Thankfully, you don’t need to worry about all the details of the process, we’ll track your pensions and make recommendations as necessary.
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Our dedicated and professional team is waiting to help you. Contact us today and let our expertise help you make the most of your money
Your best chance of getting a decent pension pot is to start young. This will allow you to take advantage of compound interest and make higher risk investments that give higher rewards. To ensure you have the retirement you’re dreaming of, you first need to consider several things.
You’ll need to know what income you would like in retirement. It’s a good idea to know what size state pension you are likely to receive. This will allow you to calculate how big your pension pot needs to be to create an adequate income in your retirement. It will help to look at your current expenditure and intended retirement age.
Reducing, and ultimately eliminating, your debts is also essential. All of this needs to be included in your pension planning. We can help you create a diverse pension portfolio, allowing you to reach your goals even if things don’t go as expected.
Frequently asked questions
Understandably, you have questions. The following are the most frequently asked, however, if you don’t find your question and the answer here, don’t hesitate to contact us. We can help you with any query, no matter how big or small.
You may want to retire at a certain age, or you may be forced to retire due to ill health. Not being able to work means a dramatically reduced income and you may not be able to rely on the state pension. Pension planning means you’ll be able to afford to enjoy your golden years, whatever happens.
The approach is different for everyone as it depends on what pension plans you already have in place and what income level you would like in retirement. We can help you evaluate your options and select the best plan for your situation and goals.
You simply need to know how much income you would like in retirement. This should be based on envisioned spending. Knowing this allows you to calculate how big your pension pot needs to be. We’ll help you understand this and create the right strategy to create the required pension pot.
Yes! We will monitor your pension plan and funds to help ensure they reach the intended level. We’ll also advise when you should change your contributions or your approach. This is a vital part of the process to ensure your pension planning is successful.
Yes, in theory, this is possible. All investments can go down as well as up. However, our pension planning process and regular monitoring of your funds will help to ensure your pot is diverse enough to withstand market changes and your goals remain reachable.
We have decades of experience developing and managing pensions and associated financial investments for individuals and businesses in all walks of life. Our existence and dedication to your needs will simplify the entire process for you.
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At Lynas Vokes, we offer a wide range of services to help you at every stage of your life’s journey. Click on the links below to view our recommended services or view our Services menu for our full range.
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We are a UK-based financial investment firm with over 200 clients. The business has been running for over 30 years and our dedicated team has decades of experience. It can be confusing and difficult to choose the right pension pot and how aggressive your approach should be. We’ll find the most suitable pension planning strategy for you, help you implement it and monitor it to ensure it remains the most appropriate option.
We are here and ready to help. Give us a call today to start planning for your retirement. We can also help with tax planning, investment strategies, estate planning and even life or health insurance.
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