The sooner you start making plans the more chance there is of enjoying your retirement years to the full. Our advisers at Derbyshire IFS are here to help you do just that. Even for those who have pension arrangements in place already, there is a chance they may not provide an adequate income during retirement. For this reason, more and more people are taking the time to review their plans before it’s too late.
Turning your pension fund into real income
If retirement is on the horizon for you, now is the time to make important decisions about how to invest your pension fund. It’s easy to assume that you will arrange an annuity with whoever has managed your pension fund up to now; but sometimes that’s not the best option. The majority of people opt for a standard annuity, but increasing life expectancy and low inflation over the past few years have caused annuity rates to fall. This means that it's likely you will receive a lower annual income from your annuity than you might have been expecting. Fortunately, there are several other options we can discuss with you, from enhanced annuities and income drawdown schemes to phased retirement options. Independent advice will find the right plans to suit your needs, making sure you receive the most from your retirement plans.
Investment planning after you’ve retired
Just because you’re already into your retirement years doesn’t mean the time for financial planning is over. Are existing investments aligned to your retirement plans? Do you have money sitting in an account that could be better used for a potentially greater return? Whatever your retirement needs, your investment plans need to be adapted to meet these and there could be more than twenty years of your retirement to enjoy, so why not make the most of the financial opportunities available to you?