Pension and
Retirement Planning

Everyone needs the long-term financial security of a pension and it is never too early or late to start planning for your retirement, whatever stage you are in your working life.

How do I set up a pension?

We will help you choose the right pension plan to meet your needs and advise on a realistic contribution strategy to ensure your pension income lasts for your lifetime and, if anything should happen to you, make sure your dependants receive your pension pot in a tax efficient way. Our experienced team of independent financial advisers will collate all necessary information – including details of plans from previous employment – to tell you how much retirement pension you currently have, how much you need to retire at your chosen age and, where possible, how to make up any shortfall.

If you are looking to retire soon, we will help you choose the right post retirement income strategy which may be flexible access drawdown or purchasing an annuity – we can help with either or a blend of both. Trust us to handle all research and paperwork – and rest assured that your pensions will be reviewed on a regular basis to check that you are on track.

Auto Enrolment made easy

If you are employed, you may have been enrolled in an Auto Enrolment scheme. We can help you understand what this means for you and your financial future. JNFP can also help employers to set up and administer Auto Enrolment schemes and meet the legal implications set out by The Pension Regulator.

What are Pension Freedoms?

You may have read about this in the media – and need to check out your own situation. Tax rules were changed in April 2015 to give people greater access to their pensions. Drawdown of pension income is taxed at marginal income tax rates rather than the previous rate of 55% for full withdrawals and the tax-free lump sum continues to be available.

There are currently six options available including:

  • Leaving the pension pot untouched
  • Purchasing an annuity
  • Obtaining an adjustable income (Flexi Access Drawdown),
  • Taking cash in chunks (Uncrystallised Funds Pension Lump Sum)
  • Cashing in the whole pot
  • Mixing any of the options above.

If you’re interested in taking advantage of this change in the law, JNFP can help you determine how much tax-free cash is available and when you will be able to access it.

Divorce and separation

JNFP offer a sympathetic advice service for clients who are separating and/or divorcing. We specialise in Pension Sharing Orders to help ease the burden. We take referrals from both members of the public and family lawyers. Please remember that a pension is a long term investment. The fund value may fluctuate and can go down. Your eventual income may depend on the size of the fund at retirement, future interest rates and tax legislation.

For independent advice on pensions and retirement planning, call JNFP on 01905 779193, email info@janenewmanfp.co.uk or get in touch via our Contact Us page.

"Jane was extremely helpful and upon knowing that I have limited knowledge of pensions, she was able to explain clearly, concisely and without using technical jargon how best to invest my pension pots. She also explained which pots would be best left where they were. I have been pleasantly surprised by the outcome and feel more secure as I approach retirement."