Are You Approaching Retirement?
Long-Term Retirement Planning
If you’re in your early to mid-fifties with retirement on the horizon, you have time to improve your financial position. The decisions you make now in terms of additional or voluntary pension contributions can give you additional annual retirement income, not to mention tax relief at marginal rates (based on earnings), a lower tax bill and sufficient capital to sustain you well throughout your retirement. Salary sacrifice pension arrangements may also be worth considering depending on your current employer and employee contributions, offering potential National Insurance (NI) and income tax savings. We can advise on the most tax-efficient and beneficial route(s) forward for you to begin preparing for retirement with peace of mind that you’ll achieve the lifestyle you want.
We can help you
- Achieve the retirement you want to have whilst enjoying the wealth you have today.
- Simplify your various pensions and invest them to achieve your retirement goals.
- Give a helping hand to your children – perhaps with education fees or getting onto the property ladder.
- Achieve your dreams of owning a second home, or a trip of a lifetime.
- Put the right insurance in place to look after your family should you become ill or die.
What our clients say
Consolidating Your Pension Pots
Most people approaching retirement have accumulated multiple pensions throughout their career, particularly if they’ve changed employers several times over the years. Tracking down these disparate pots and understanding your total lifetime accumulated value is a pivotal first step. It’s also quite an administration-heavy task, which is why we are happy to consult with all pension providers you’ve had to create a consolidated pot. That said, consolidation may not be suitable for everyone; while bringing pensions together can reduce fees in some cases and may give access to a wider range of investment options, some legacy pensions carry valuable guarantees in annuity rates, tax-free cash entitlements and final salary benefits that are hard to overlook. This is where our specialist tax and pension advice becomes invaluable.
Mortgage Advice and Strategies
Entering retirement with a mortgage is possible but does increase the amount of capital and income you’d need while constraining your available options. Clearing any outstanding mortgage debt before retirement does reduce your required retirement income substantially, however. Overpaying mortgages, increasing pension contributions, or both can be a good solution, all dependent on your monthly expenses, your current mortgage interest rate, tax position and pension status. We can give you tailored advice based on your unique circumstances and goals to help you make the best decisions for you to preserve your wealth and income in retirement.
Rethinking and Optimising Investments
Even if you’re several years from retirement, your investments can still ride out market volatility and benefit from growth-focused strategies. As you move closer to retirement, gradually reducing risk through your investments helps protect your accumulated capital from market downturns just as you need to start drawing on it. Our regular investment portfolio reviews can help you impartially assess your risk profile and available purchasing power, as well as measured shifts towards more sustainable and stable assets to provide smoother returns as you approach your retirement date.
Professional Inheritance Tax Planning
For many approaching retirement, your home and savings combined will likely put you above the inheritance tax threshold. From April 2027, pensions are also expected to be subject to inheritance tax, making it even more important to plan ahead.
Each individual has a £325,000 nil-rate band, plus an additional £175,000 residence nil-rate band if you’re leaving your main home (valued at £175,000 or more) to direct descendants, though this tapers away for estates above £2 million. Pensions are also due to be subject to inheritance tax charges, so these, alongside any other income sources, should be regularly reviewed to ensure you have as much financial flexibility now and well into retirement. Gifting options, trusts, or using life insurance written in trust all show promise but these must be balanced against your own needs and plans, which is where our inheritance tax advisers can provide much-needed clarity and direction on.
Retirement Planning Services Tailored to You
We work with people throughout the pre-retirement period to build detailed, realistic retirement plans that reflect your actual circumstances and goals. Our Chartered financial planners help you understand exactly where you stand, what your options are, and what actions to take in these crucial final working years.
From pension consolidation analysis to tax-efficient contribution strategies and phased retirement planning, we provide the specialist expertise that transforms vague retirement hopes into concrete financial plans.
Our relevant services for those approaching retirement:
• Retirement – comprehensive retirement planning and timing strategies
• Pensions – consolidation advice and contribution optimisation
• Tax Planning – inheritance tax and income tax efficiency
• Holistic Financial Planning – coordinating all elements of your pre-retirement strategy
Your home may be repossessed if you do not keep up repayments on your mortgage.
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. Your pension income could also be affected by the interest rates at the time you take your benefits.
This content is for information only and does not constitute advice.
The Financial Conduct Authority does not regulate estate planning, trusts, or tax advice.
Retirement FAQs
This depends on your desired lifestyle, health, location, and other income sources. While a general rule of thumb is to aim for 70-80% of your pre-retirement income annually, we believe in creating a personalised strategy. We will work with you to calculate your specific retirement income target based on your goals and create a clear strategy to achieve it.
The full new State Pension is currently £230.25 per week (2025/26). You need 35 years of National Insurance contributions for the full amount, with a minimum of 10 years to receive anything. Our advisors can help you check your National Insurance record and plan for any gaps.
You can typically access private pensions from age 55 (57 from 2028) and State Pension from your State Pension age (currently 66, rising to 67 between 2026 and 2028). However, retiring early requires careful planning to ensure your funds last. We can provide different retirement scenarios for you to help you make the right choice based on your goals and desired lifestyle.
A sustainable retirement income strategy combines various sources like your State Pension, private pensions, ISAs, and other investments. We help you create a tax-efficient withdrawal strategy designed to provide a sustainable income throughout your retirement. Our approach focuses on preserving your capital and managing risks, ensuring your financial plan works for you in the long term.
If you’re concerned about being behind on your retirement savings, there are several strategies we can explore with you. These may include increasing your current contributions, working a little longer, or adjusting your planned retirement expenses. Our advisors will help you assess your current position and create a realistic, purposeful plan to help you maximise your retirement income potential, no matter where you are starting from
The value of your investments can go down as well as up, so you could get back less than you invested. 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 and legislation is subject to change.
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.
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.