Assessing your pensions

Assessing your pensions

State Pension:

The State Pension is still an important source of income for many people, so it is important to understand when you can start receiving the State Pension and how much you’re entitled to. This depends on your National Insurance contribution history, and can be checked online here.

You need to claim the State Pension, as it’s not automatic. Check your State Pension age and consider whether delaying the claim could benefit you.

State Benefits Eligibility: Investigate other government benefits or schemes you may be eligible for, such as Pension Credit, Winter Fuel Payment, or Council Tax Reduction.

Personal and Workplace Pensions:

Review Your Pensions: Obtain the value of your personal and workplace pensions, and find out how they can be accessed and when. Some pensions, particularly older private pensions and workplace schemes, can penalise you for retiring early. We can help you to decide when to take your pensions, and bridge any financial gaps.

Consolidation: Consider consolidating multiple pension pots for easier management and potentially lower fees.

Personal and Workplace Pensions:

Keep it simple: Having your pension savings in one place will make it easier to keep track of them.

Plan for the future: Bringing your pensions together makes it easier to see if you’re on track for the retirement you want, and easier to implement a pension income strategy.

Consolidate your plan charges: Some pension plans may have higher charges than others. Combining your pensions in one place will mean you benefit from having just one plan charge.

Access flexible options: Old pensions don’t offer flexible income planning, such as drawdown, and so moving to a new scheme can open up a range of new options for you.

Get In Touch With Us

If you like what you have seen on our website, the next step is to get in touch, we offer a free initial discussion with no obligation. You can do this face to face, by phone, or on Skype.

It would really help if you could tell us your reason for getting in touch.

Please rest assured that we take your privacy very seriously: We will never share or sell your personal details to anyone without your permission.

Apex CB Financial Planning Ltd, Poole

BH16 6HX, Suite 2, Jellicoe House

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01202 622223

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