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Pension Consolidation Close to Retirement

Pension Consolidation Close to Retirement

Frank, aged 57, has worked as a civil engineer for the past 40 years and is looking to move into semi-retirement with a view to full retirement at age 65. He is unsure how much he will need to live on and wants to maintain flexibility of income and control over investment choice in retirement.

Client Circumstances

  • Moving towards semi-retirement
  • Variety of pension plans both personal and employer
  • Hard to keep track of all the plans
  • No co-ordinated approach
  • Wants a streamlined strategy
  • Flexibility of investment & income

Recommended Solutions

  • SIPP to consolidate all suitable plans
  • Employer final salary to provide base income
  • Keeps options open

Benefits from advice given

  • Base income from final salary to provide element of security and predictable income
  • Remaining plans amalgamated into one SIPP contract
  • Simplified administration
  • One co-ordinated asset allocation
  • Ability to vary income when required
  • Funds remain invested to benefit from potential growth
  • Flexibility to change and adapt strategy as and when required

Self invested Personal Pension

Pension Consolidation Close to Retirement

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Future Servicing

We will look to carry out a regular review of your circumstances, objectives, needs and portfolio performance to ensure all arrangements continue to be suitable and advise of any changes that may be appropriate.

This example is for illustrative purposes only, based on current legislation and tax allowances. Tax rules and regulations are subject to change.

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