Financial Planning

Your pension income will most likely be the core part of your overall retirement planning.

It is essential to ensure that your personal or workplace pension savings are invested correctly, so that your money is working as hard as it can for you. 

We can advise you on how much you have already saved, and on how much you would need to achieve the lifestyle you would like to have in retirement.

Pensions are invested for you by a pension company, across a spread of asset classes, often largely in investment funds. Each year, we can lift the lid on your pension and check that the funds where your money is invested are performing well; if they are not, you may be missing out on growth you might otherwise have had. If that is the case, we can switch your savings into better performing funds. We aim to maximise the amount you will have to live on in retirement.

The way we live has changed. Whereas previous generations tended to have just one or two employers during their lifetime, today we are far more mobile, and can have five or six different jobs during our working lives. This can mean multiple workplace pensions. 

The Pensions Policy Institute estimates that the number of small pots in large workplace pension schemes, around 8m today, could be 27m by 2035.

We can help you consolidate your pension savings and put everything under one roof, cutting the charges you pay and giving you a much simpler overview of what you have, and where you stand.

Inheritance tax (IHT) may be levied on a part of your estate when you pass away. You have a tax-free allowance, but after that your family could face a bill to inherit your wealth, property and assets that is levied at 40%.

The good news is that much if not all of the inheritance tax families pay could, with a little advice and forward planning, so easily have been avoided.
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This is why IHT is known as the most avoidable tax of all.

We can also help you with making your will, to ensure that the transfer of your wealth is passed to your loved ones in accordance with your wishes.
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Again, good planning provides peace of mind. You can be sure that, at an already stressful time, your family will not be kept waiting to inherit the financial security you wish for them.

Insurance products are collected under the general umbrella term of protection.

The most common and well-understood is of course life insurance, which protects your family from financial hardship if you pass away.

However, there are other insurances that have other purposes.

Critical illness insurance pays a tax-free lump sum in the event of you suffering from a serious illness such as cancer, stroke or a heart attack.
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Income Protection can provide a monthly income if you become ill and can’t work, helping with your bills and outgoings, and is payable until you return to work.
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With these in place, combined with the other financial strategies discussed above, you and your family can rest assured that unexpected eventualities need not be a threat.

At Pelier, we have you covered.