Retirement income options

Expert, professional advice on accessing your pension fund the best way for you

Retirement income options


Expert, professional advice on accessing your pension fund the best way for you

You’ve spent 30 to 40 years saving into a pension, and now that you’re approaching your retirement, you need to turn it into an income that might need to last for the next two decades or even longer. So, where do you start?

The income and investment choices you now have can be bewildering, and poor decisions in the early days can have catastrophic consequences later on.

When you reach retirement, the way you convert your pension savings into a regular income depends on the type of pension you have and how much you have saved. Regardless of the size of your pension pot, there has been greater flexibility introduced for everyone since April 2015. These days, you have many more options available at retirement – an annuity or enhanced annuity, flexi-access drawdown, uncrystallised funds pension lump sums and more.

The perfect retirement plan will be different for everyone. It depends on various factors including how much you have in savings and other assets, your health, your income needs, your attitude towards investment planning and whether you want to pass wealth on to your family.

Which options are best for you?

Obviously, everyone’s pension funds, future plans and financial requirements are different. The best option for you will depend on your unique personal circumstances. There certainly isn’t one solution which will suit everyone.

As with all financial planning matters, you need to bear in mind your wider financial picture before making any big decision about your pension. We are committed to helping you make the right financial decision every time, and when it comes to your pension fund the wrong choice can be extremely costly for you and your family.

Our happy customers:

Chris Morgan FRICS, Retired Chartered Surveyor

Paul and the team are both friendly and efficient and are always on hand whenever Ann and I have a query related to financial matters. Our main objective is to maintain our lifestyle in retirement by drawing from our assets as tax efficiently as possible and Dunhams Financial Planning ably assist us in this regard. They help us manage our wealth, pensions and investments and in a straightforward, understandable and efficient manner. In addition, their ability to simplify the complex and help us to make informed financial decisions has removed the burden from our shoulders and left us with greater confidence, as well as the freedom to spend our time and energy on other things in life.

Our happy customers:

Dave Collinson, Retired Dentist

I have been a client of Dunhams for over 38 years and the company has always provided a top draw service. Their advice has been sound, prompt, very businesslike and appropriate to the various circumstances. They have an excellent up to date knowledge of the current legislation and its best application. I have had cause to use them in complex dispute matters and the service was first rate, sympathetic and robust when necessary. I was so satisfied with the all round service provided that on my retirement I wisely decided to use their wealth management branch. Their disentangling of a partnership and then the complete investment and pension advice service took away the worries of a turbulent market. All in all a company to recommend strongly.

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