Pension Planning

A pension scheme is, effectively, an investment subject to specific Tax and Benefit legislation and broadly pensions exist in two distinct and separate stages:

• Accumulation Phase

We consider a client’s prospective and current situations. The pension benefits may not become due for some time and growth or loss compounds over time, so regular attention is needed.

• Income or Benefit Phase

We believe review is fundamental for any invested pension; potentially more important than with other investments to ensure that appropriate and relevant benefits are maximised.
The difference with planning pensions is that the results of the planning arise long after the opportunity to alter the outcome. This makes a regular review more not less important.
The key considerations for pension planning are:

• Identifying the target value relevant to individual circumstances
  now and in future
• How to most effectively accumulate appropriate and relevant value
• Maximising the value of benefits achieved

We believe these three points need regular review especially in light of changing legislation.

The basis of our pension planning reviews is to establish:

• Risk profile
• Match to current and prospective circumstances and needs
• Current value and prospective, projected value
• Appropriate Fund selection to match risk profile
• Funding requirements or benefits accrual (as relevant)