Retirement Case Study

I met a couple in their 50s who are “beginning to think seriously” about their retirement. Like many people they have various pension plans started at different times in their lives. At our initial meeting we talked about how much income they expect to need once retired, and how much capital they need to support this income. In addition to their pensions they have a let property, ISAs and cash.

One of their private pensions has an excellent guaranteed annuity rate, while the others had no guarantees and were not being regularly reviewed. After appropriate investigation we consolidated their numerous private pensions to, amongst other things, reduce paperwork and aim for improved investment growth. Also this ensured regular reviews take place leaving the guaranteed annuity in place. Pension contributions continued and regular contributions to an ISA were started. This package will help make best use of their tax free allowances when they retire.

They now have peace of mind that their retirement planning is on track to provide the comfortable retirement they are aiming for.

The value of an investment with St. James's Place will be directly linked to the performance of the funds selected and may fall as well as rise. You may get back less than you invested.

The levels and bases of taxation and reliefs from taxation can change at any time. The value of any tax relief depends on individual circumstances.