Given recent legislative changes to pension provision, it has, perhaps, never been more important to assess your existing arrangements (both NHS and private). The new rules provide some potential threats but more importantly, some opportunities if acted upon appropriately.
To achieve your retirement goals, it is important to regularly consider the following points:
- Know how much your NHS and/or private pension may be worth in retirement. Are you within the limits imposed in the recent years?
- Having a retirement income in mind. If so, do you review this regularly to ascertain whether your targets are achievable?
- Have you identified what income may be provided in retirement from all resources?
- If you have a shortfall, what plans are in place to help you achieve a comfortable retirement? Are they tax efficiently structured?
We appreciate that, much of your time may be devoted to work; hence, your personal wealth management may not demand the full attention that it deserves.
As a wealth manager specialising in, and fully conversant with, the complexities to the NHS Pension Scheme, we can offer you a bespoke Pension Assessment to help you find answers to these important questions. The service will offer:
- A valuation of your NHS Pension, including lifetime allowance implications and deemed contribution.
- An assessment of existing private schemes (Including details of charges, fund assessment and growth achieved).
- A Lifetime Allowance assessment
- Recommendations of any shortfall in provision allowing for current rules.
Upon conclusion you will receive an individual report based on your existing provision and any changes required given the new rules.
If you do feel that my services may be of help, please do contact us – We look forward to hearing from you.
The levels and bases of taxation, and reliefs from taxation, can change at any time. The value of any tax relief depends on individual circumstances.