Pensions
As one of the largest and most important assets to take into your later years, it’s vital to get your pension to a state where you can retire comfortably and without worry. Pension rules, options and obligations are, however, confusing. At PFM Associates, we recognise that pensions can be complex and give you personalised, easy-to-understand advice along with a robust pension and retirement strategy that will serve you well in retirement.
Understanding Your Pension
Whether you have a workplace pension, personal pension, or an assortment of different schemes from various employers, PFM Associates’ pension advisers and Chartered financial planners will help you understand exactly how best to utilise those funds to support your retirement plans.
Many of our customers come to us with questions like:
- “Do I have enough money to comfortably retire now?”
- “Am I on track for the retirement I want?”
- “How much money do I need for retirement?”
- “Will I run the risk of running out of money in retirement?”
At PFM Associates, we undertake an in-depth finance and pension analysis to give you clear answers and actionable next steps you need to take to achieve your financial goals in retirement.
Our Pension Services in Poole
We help higher earners, business owners, and medical professionals maximise their tax-efficient retirement savings.
If you don’t own or run a business and have been working for different employers your whole life, you may have accrued multiple pension pots. We analyse whether consolidating makes sense for your financial situation, considering charges, benefits, and investment options. We also explore salary sacrifice arrangements to boost your pension contributions while lowering your tax and National Insurance contributions.
If you’re exploring ways to give your retirement plans a boost, we will be happy to discuss all options with you.
You can discuss the following with us:
- Income and outgoings
- Personal pensions
- Stakeholder pensions
- Pension transfers (terms apply)
- Auto-enrolment schemes
- Group schemes
- Executive schemes
- Self-invested schemes
What our clients say
Our Pension Expertise
Since pension freedoms were introduced, you have more choice than ever in how you access your pension.
Our expertise covers:
- Phased retirement strategies
- Pension drawdown planning
- Tax-efficient withdrawal sequence
- Annuity considerations
- Inheritance planning for your pension
We provide strategies to help professionals and business owners manage lifetime allowance effectively, including alternative savings strategies and proactive tax planning.
Why Choose PFM Associates for Pension Advice?
As independent Chartered financial planners in Poole, Dorset, we’re not tied to any pension provider or product. This means we can access the entire market to find the most suitable and cost-effective solutions for your needs.
We explain everything clearly for you, ensuring you understand your options and the implications of different choices. Our transparent fee structure means you know exactly what you’re paying for our expertise in pensions, wealth management, and financial planning.
Whether you’re just starting your career, approaching retirement, or anywhere in between, it’s never too early or too late to optimise your pension arrangements.
Arrange a free initial pension review with one of our Chartered financial planners today, and we’ll set you on the right path to help you get the retirement you want and deserve.
Why work with us?
There are many reasons why over 2,000 people in Dorset, Hampshire and the South have chosen us to help them on their financial journey.
A pension is a long-term investment not normally accessible until age 55 (57 from April 2028 unless the plan has a protected pension age). The value of your investments (and any income from them) can change, which could affect the level of pension benefits available. Your pension income could also be affected by the interest rates at the time you take your benefits.
The tax implications of pension withdrawals will be based on your individual circumstances, tax legislation and regulation which are subject to change. We recommend seeking advice to understand your options at retirement.
Be advised that the Financial Conduct Authority do not regulate tax or estate planning.
The value of your investments can go down as well as up
FAQs - Pensions
The earlier you start, the better due to compound growth. Ideally, you should begin contributing to a pension as soon as you start earning. Even small contributions in your 20s can significantly impact your retirement wealth based on decades of growth potential and tax relief benefits.
There’s no single one size fits all approach – the right amount depends on your specific financial goals and circumstances. However, financial experts often suggest aiming to contribute enough to receive the full employer match, if available. A general guideline is to aim for 10-15% of your annual income, which includes your employer’s contributions.
The annual allowance for tax-efficient pension contributions for the 2025/26 tax year is £60,000, though this can be reduced for high earners through the tapered annual allowance. Our financial advisors can help you navigate these rules and create a strategy that’s right for you to get you on track for a comfortable retirement.
Generally, you can access most pension funds from age 55 (this will rise to 57 in 2028). However, early access may result in tax penalties and reduced retirement income, though there are some exceptions for ill health or specific pension types. We’ll help you understand your options and implications of accessing your pension early.
Defined benefit (final salary or career average) pensions provide guaranteed income based on your salary and service years. Defined contribution (money purchase) pensions depend on contributions made and investment performance. Each has different risks, benefits, and transfer considerations. We are qualified advisors who can help you navigate this area of your finances.
Consolidating pensions can simplify management and potentially reduce fees, but it’s not always the right choice. Some older pensions have valuable guarantees, benefits, or exit penalties that you’d lose/incur if you transfer. It’s important to have each pension’s terms, charges, and benefits analysed by a qualified advisor before making any consolidation decisions.
A pension is a long-term investment not normally accessible until age 55 (57 from April 2028 unless the plan has a protected pension age). The value of your investments (and any income from them) can go down as well as up which would have an impact on the level of pension benefits available. Taxation is also subject to change. Please note, the information provided on this page is for informational purposes only and does not constitute advice.
Ready to start your journey?
If you have any questions or would like to organise a no-obligation consultation at our expense, please complete this form.