Retirement Planning and Pensions
It's never too early to start planning for retirement, and the sooner you start to pay into a plan the potential to save more for your retirement is greater.
What is a pension and how does it work?
It's a plan which is set up to help you to save money with the aim of providing you with an income in retirement. Contributions are often made directly by you or your employer and its possible to benefit from tax relief on the contributions which are made.
Types of pension we provide advice on
Personal Pensions
A flexible, tax-efficient way to save for retirement. You make regular or lump-sum contributions, which are invested to grow over time, with tax relief on payments.
Defined benefit/final salary
A workplace pension that provides a guaranteed income for life, based on salary and years of service.
Self-invested personal pensions (SIPP)
A pension with greater investment control. Choose from a wide range of assets to manage your retirement savings your way.
Small self-administered schemes (SSAS)
A pension scheme for business owners, allowing investment in commercial property, loans to the business, and greater tax efficiency.
When can I take my money out?
Since the budget in 2014, you are now able to access your pension funds from age 55 (only certain circumstances will allow access prior to this) however, some people decide to leave their funds invested until they finish working.
What to do when you are ready to take your pension?
Once you are ready to start taking an income from your plan then you will need to decide whether to take a guaranteed income option (annuity) or flexible income option (Flexi-Access Drawdown). With either of these options you can usually choose to take up to 25% of the pension fund as Tax-Free cash.
Try our Pension Calculator
This calculator is for illustrative purposes and uses assumptions based on the user's inputs only. The output of this calculator should not be solely relied on to make important retirement planning decisions.
A pension is a long term investment and the capital invested can go down as well as up. You might not get back the initial capital invested. A pension should be seen as a long term investment.
Pension legislation can and does change and this may affect the benefits you are entitled to in the future. Current age Retirement age Current pension values Monthly contribution Return% (per annum) Calculate
Hear what our customers say
Personal services and advice for you
Helping you plan for retirement.
Making mortgages straightforward.
Specialist advice on planning for your family’s future.
Protecting you and your family’s future.
Making your investments work for you.
Guiding you through creating and managing a Will.
Related news & insight
Market Commentary
Europe needs to adjust to the new security architecture and realities that we are now facingLast week, global leaders met in Davos for the World Economic Forum Annual Meeting 2026. Talks were focused on rising geopolitical and economic tensions, including the Russia-Ukraine conflict and the fast-moving situation in Greenland. On Wednesday 21 January, President Trump delivered a special address, touching on US economic growth, immigration and Greenland. He stated that […]
Market Commentary
Any decision about the future of Greenland belongs to the people of GreenlandKeir Starmer spoke from Downing Street on Monday morning in response to President Trump’s intention to take control of Greenland because of its strategic Arctic position and mineral wealth. The Prime Minister said Trump was “completely wrong” to threaten tariffs against countries opposing the move, urging for the issue to be resolved through calm discussions […]
Market Commentary
This is a government that wants what’s best for ScotlandOn 13 January, Scottish Finance Secretary Shona Robison delivered her draft Budget, outlining key tax and spending plans for the forthcoming financial year, running from 1 April 2026 to 31 March 2027. The Scottish government usually announces its Budget in December but due to the late timing of Rachel Reeves’ Budget on 26 November, decided […]