Confused about your pension?
We specialise in providing independent pension advice across Coventry and the surrounding areas. Whether you’re reviewing existing pension pots, planning early retirement, or simply want clarity on your options, we’re here to help you take control of your financial future.
Pension Reviews
We assess your existing pensions to give you a clear picture of what you have — and where you could be missing out.
Pension Consolidation
Bringing your pension pots together can reduce fees, simplify your finances, and give you greater control.
Tax-Efficient Pension Access
We help you draw from your pension in a way that minimises tax and maximises your long-term income.
Retirement Income Planning
Explore your options, from flexible drawdown to annuities, and find the strategy that’s right for you.
Why Pension Advice Matters
Your pension may be one of the biggest financial assets you ever have. Getting the right advice now can make a huge difference later. We can help you to:
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Understand your current pensions and what they’re worth
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Maximise your retirement income
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Avoid unnecessary tax
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Make informed choices about drawdown, annuities, or lump sums
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Plan a retirement that suits your lifestyle and goals
Whether you’re decades away or nearing retirement, professional advice gives you peace of mind.
Independent pension advice in Coventry
Proudly serving Coventry, Earlsdon, Tile Hill, Coundon, Binley, Cheylesmore, Kenilworth, Leamington Spa, Warwick and the wider West Midlands
Pensions FAQ’s
Why are pensions significant?
It’s very easy to put off saving for your retirement, especially with everyday costs, but with people now living longer, pension planning is becoming increasingly important.
Pensions can often be quite complex which can sometimes deter people from taking out a pension and stop them acting in planning their retirement. Pension’s have become more straightforward with a number of changes in the regulations which has made the pensions process much simpler and easier to understand.
What can a pension offer?
A pension in its simplest form is an investment plan which will provide you with an income once you retire. A pension gives you tax relief on contributions and the investment itself grows essentially free from tax.
You will pay tax on the pension that you take when you eventually retire. For many people however, their rate of tax in retirement will be lower than during their working lives, making a pension an extremely tax-efficient form of saving.
How does a pension plan work?
If you take out a pension plan, it will basically work as follows:
You will make payments into a pension fund, payments into the pension plan can be made as a lump sum, on a regular basis, or both. The funds are invested. You can draw your pension from the age of 55 (rising to 57 in 2028) Your pension can be drawn in a way which suits your requirements. There are certain circumstances, in which your dependents may also benefit from your pension plan.
How much should you contribute to a pension?
This is personal to you and depends on your own circumstances and the level of income that you would like. This can be affected by your age, your appetite to risk and when you would like to retire. The younger you start the less you will need to pay in to reach your goal.
How do you access a pension?
Flexibility is the key to retirement. In some cases, it may be beneficial from a tax point of view for you to not draw your pension immediately, as it’s now possible for your beneficiaries to ‘inherit’ your pension in a very tax efficient manner.
There are certain options which should be considered when deciding how to draw your pension.
Tax Free Cash
Most pensions allow you to take an element of tax-free cash, typically 25% of your pension fund. If your pension is an occupational scheme that has been in place for many years, the amount you can take may be different.
Annuities
Traditionally, the most common way to draw your pension is by way of an annuity which will provide you with a guaranteed pension for the rest of your life. You can add other benefits, such as a pension for your spouse after your death or the facility to have your payments increase each year. Though, the more ‘options’ you add, the lower your initial annuity payment will be. If you suffer from any medical conditions you may qualify for an enhanced annuity, improving the amount you will receive.
Flexible Drawdown
This is an alternative to buying an annuity. Essentially, you will continue with your pension as an investment, but draw an income from the fund. The amount you can draw is unlimited, but you have to consider both the tax consequences and planning to ensure that your funds last as long as you need them. The benefit is that you have control over your investments, while still retaining the right to convert to an annuity at any time. You are also able to leave any unused funds to your beneficiaries. This option is not without its risks and should be fully discussed with one of our professional advisers.
Book Your Free Pension Consultation
Your first step is a free, no-obligation consultation with a qualified adviser. We’ll take the time to understand your current pension arrangements and what you’re aiming for — then give you a clear, jargon-free plan of action.