Three ways 2020 may have impacted your retirement plans

Perhaps now more than ever, it’s sensible to review your pension, and at Podium Financial we’re seeing an increase in clients contacting us who find themselves in one of three situations with their retirement plans following the pandemic.

1) Your retirement plans have slowed down
Your retirement date has been pushed back. You’ve decided not to retire at this time as you are unable to enjoy retirement because celebration events (such as dream holidays) are not possible.

How I can help you

• Make sure your pension plans are ready for when you do choose to retire.
• Help you navigate the complex tax rules about topping up your pension if you have excess income to save for retirement.

2) Your retirement plans have speeded up
Your retirement date has been moved forward – possibly outside of your control due to redundancy. You could be under pressure to access your pension earlier than you planned or want to.

How I can help you

• Help you understand all the different ways you can access your pension and how to make sure it lasts for as long as possible.

• Make sure you don’t pay too much in tax and avoid the mistakes people make when they do things themselves.
  
  

3) Your retirement plans are now in focus
For the first time you have found yourself wanting to know when you can retire. You are suddenly motivated to sort out your retirement plans and get them into shape.

How I can help you

• Review your current pension plans and tell you if we think that your pensions are best kept where they are.
• Shop around for the best deal and make sure you have the confidence that your retirement plans are now fighting fit.

Making informed decisions sooner rather than later could make a big difference to the quality of your retirement, and although retirement planning can be complex, Podium Financial are here to make sure that your retirement plans are as good as they can be. If your pensions can be improved, we will explain how and discuss the next steps with you.
 
We offer a completely independent advice service without restriction or bias. This means that as a fully independent financial adviser, we are able to research the whole of the market and select the most appropriate products and services to meet your needs.

A pension is a long term investment not normally accessible until age 55 (57 from April 2028). The value of your investments (and any income from them) can go down as well as up and you may not get back the full amount you invested.