Whether it is a company seeking to provide for employees or individuals thinking about their later years, retirement planning is a critical element of securing your financial future. At the end of the day, maintaining our lifestyle after retirement is an important goal for most of us.
With the country’s finances under severe pressure, the current levels of old age pensions are at best, very unlikely to increase over the next few years from their current low levels. In any event, most people would not be happy to survive on the current old age pension alone. The age from which people can claim the state old pension is also increasing, so you now get less pension at a later stage.
As we all also live longer (which is a good thing!) due to the advances in medical science, this comes with a price. Your pot of money needed to see you through retirement now needs to be bigger to see you through this longer period.
At Reade Pensions & Financial Services we work with our clients to help them plan to achieve financial independence in retirement. We work with
- Companies establishing pension schemes for employees
- Business owners / directors planning their own retirement futures
- Self employed individuals planning their retirement
- Members of company schemes liking to increase their scheme benefits
The retirement planning that you carry out in your working years is the key to accessing your desired lifestyle in retirement. It’s simple really; save now in a tax efficient manner in order to spend later.
Tax benefits sit at the heart of retirement planning - there is a number of taxation advantages to support you your retirement planning;
- Tax relief on your contributions
- Pension funds grow free of any taxes such as DIRT, CGT etc.
- A portion of the pension fund can be taken tax-free at retirement.
But tax benefits on their own are not enough. We help you to understand your retirement objectives, identify the right pension structure for you based on your own circumstances and help you to choose the right investment approach to meet your needs and risk appetite. It’s our job to understand the technical and regulatory complexity, and to present solutions to you that you fully understand and that meet your needs.
Funding your retirement is a long road. You need to start as early as possible to avail of all the tax breaks, and to give yourself the greatest chance of meeting your retirement objectives. At Reade Pensions & Financial Services, we want to travel on this long road with you, every step of the way. So we will help you develop your retirement plan at the outset, and then every year review the plan with you to ensure you are still on course to achieve your objectives.
If you would like to find out more about how we help our clients to achieve their retirement objectives, please contact us.