Taking your pension benefits

tb_pensionsWhen you are at the point of retiring, the new pension freedoms have opened up all sorts of alternative strategies to taking your pension benefits.

Retirement Advice at the time of retirement is an absolute must. Everyone’s circumstances are different and retirement plans must reflect your needs not that, of your next door neighbour.

True Bearing Chartered Financial Planners run Retirement Workshops for many major North West employers. These include Universities, Local Authorities, Teachers Authorities, Police Forces, as well as companies in the private sector. Oil and Chemical Companies, and luxury Car Manufacturers.

Amongst the many ways of taking pension funds are:

  • Annuities and Enhanced Annuities – an annuity is a guaranteed income for life. Still today a very valuable certainty to have. Enhanced annuities give higher incomes if your health is not too good or you smoke. You should always check this option.

  • Drawdown – drawdown has now become more common since George Osborne introduced greater pension freedoms. Varying amounts of capital can be taken from your pension pot. It depends on your wishes.

  • Phased Retirement – occurs where you phase in portions of your pension fund over several years. This may be useful where your full retirement is staggered.

Guidance v Advice

Guidance is supplied by the Citizens Advice and The Pensions Regulator. It is NOT regulated advice, but is helpful assistance to you. It is FREE.

Advice is fully regulated, far more detailed, and specific to you and your particular situation and needs. It is provided by a Financial Adviser and you will pay a fee for it.

For more help from an IFA who understands you and all the options, please leave your contact details. A True Bearing Financial Adviser will contact you.

Let us contact you

What our clients are saying about us

Excellent service from Jon Neale and True Bearing Chartered, people who really do know what they are doing . He explained everything about my pensions clearly and precisely and has put them into a fund where I am secure in the knowledge that I will have an income from them for my retirement. Perfect five star service from a company I would happily recommend to anyone

Darran Wrigley, Manchester

I have known Greg for several years, as he used to be my mother’s adviser. He found me a better deal on my mortgage where I have reduced my monthly outgoings.  He was also able to find a more suitable and less costly life and critical illness insurance policy.  The information that he has provided has always been very helpful and I would recommend him to anyone.

Christine Champan, Cumbria

Because Les provides comprehensive and sound financial advice to me personally and to my family, I have no hesitation in recommending him when our clients ask us about pensions or investments.  Les’s friendly and approachable manner displays a wide knowledge of financial solutions, and he always explains in detail the options given, so that an educated decision can be made.

Josie Smith, Accounts Matters Ltd – Lancaster

We have dealt with David Oversby for the majority of our financial affairs for the last 10 years. We have found him to be professional and attentive at all times offering astute and accurate advice.

Jo Blakeway, Radio Presenter, Century FM

We have used Rob for advice in a number of differen areas, especially in relation to our pension planning and insurance policies, and he has always provided us with a clear solution. We have happily recommended him to many of our friends and family and will continue to do so. He is a pleasure to deal with.

G McDonald, Senior Project Manager, EC Harris – Leeds

For the first time, I can now look to a planned retirement in the safe knowledge that Julie has my needs in mind and can advise me instantly on how to deal with any unplanned occurrences. I have in turn recommended Julie to my family, friends and work colleagues as she shows honesty, reliability and a great determination to get the best for her clients.

Tony Carden, Commercial Manager – Liverpool

Mark produced a report addressing my concerns about Inheritance Tax. He recommended the use of an offshore investment and a protection plan which would have an immediate benefit to my financial planning.As a result of his advice, I estimate that my estate will save over £250,000 in Inheritance Tax, although Mark contacts me regularly to ensure that my planning is effective. I would recommend Mark and True Bearing to anyone wishing to protect their assets and pass on wealth to their families.

Mrs H, JP – Lytham

Michael has been my IFA for some years, managing my SIPP and providing ongoing general investment advice.  Having used other companies previously, he came as a breath of fresh air.  His client care and attention to detail is absolutely superb, and following his advice at our regular reviews during each year has stood me in good stead as regards the performance of my SIPP, which has consistently been most satisfactory, despite the difficult financial times over the last couple or so years.

John Wane Esq, McKendrick and Wane Ltd – Preston

Our Independent Financial Advisers

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Call us on: 01257 260011, email: contactus@truebearing.co.uk or click below to send an enquiry

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