Retirement & Pensions

PERSONAL PENSIONS

Employed, Self-employed, or Retired.

We will review your existing pensions to ensure that they are meeting your needs and are providing the service and funds which you are currently paying for. It is also important to review the charges you are paying to your existing providers for looking after your pension.

We are able to advise you if have not yet started saving into a pension, whether you are employed, self-employed, or retired. We can help if you have left a previous company and you have not done anything with your existing pension, or simply want to start paying into a new pension.

FINAL SALARY

DEFINED BENEFIT SCHEMES

Gold-Plated schemes?

These schemes are often called 'Gold-Plated' schemes, and regularly they are just that.

Fernleigh Wearden & Co no longer offer advice on these types of pensions, however we firmly believe that if you have one of these pensions through a previous employer, that you should consider obtaining advice from an indepdendent financial adviser with permissions to advise you on this area.

If you are still an active, employed member of a final salary scheme, it is rare that a financial adviser would recommend leaving a scheme. However, if the scheme has been closed, or if you have left the scheme, it is very important to consider reviewing the scheme to ensure your existing pension is meeting your needs and expectations.

A transfer could be beneficial if:

You are in poor health.
You are single or divorced, or your spouse/partner has substantial assets in their own right.
You have a spouse or children who you want to leave money to on your death.
You have other assets, or are likely to have other assets at retirement which will meet your retirement needs.
Taking a final salary pension will cause you income or inheritance tax problems.
You are willing and able to take investment and transfer risk.
You can afford to lose some of your pension fund in the short term if markets fall or have a period of under performance.