45 to 55 years
45 - 55 years old
Key considerations at this age
When do you want to retire?
Have you considered your retirement lifestyle? Or when you actually want to retire? The earlier you start planning, the easier it will be to create the retirement lifestyle you want. For most of us, the State Pension will not provide adequate funding in retirement to maintain the lifestyles we have become accustomed to during our working lives. It’s not too late to review your funds and make any necessary adjustments.
Your attitude to risk
In the years since you first took out your pension policy(s), your attitude to risk may have changed. As you get closer to retirement, you may be looking to secure your pension funds. Completing a careful reassessment of your risk tolerance, may well help you achieve these goals.
We can advise on:
Take up to 25% Tax-free lump sum – if your 55 or over you can normally choose to take up to 25% (a quarter) of your pension pot as a tax-free lump sum.
Investment growth – a drawdown pension allows you to keep your savings invested, meaning your money could continue to grow, unlike if you purchase an annuity.
Reducing charges – your pensions may have different annual management charges, some lower than others, so it could make sense to combine your pensions into one with lower fees.
Easier to manage – it’s critical to keep a close eye on your pension savings. Moving them into one pension scheme could mean you don’t lose track of your money.
Save money – there can be huge differences between different pension policies and the charges they incur.
Reduced risk – as you get closer to retirement, a higher risk pension may not be suitable for your personal circumstances.
Final Salary Pensions
It’s a legal requirement to seek professional financial advice from a fully qualified adviser who is authorised by the Financial Conduct Authority (FCA), if your pension is valued over £30,000.
At F3 Wealth – we hold the necessary qualifications to advise on Defined Benefit (Final Salary) pensions.
What our clients say
F3 Wealth are Chartered Wealth Managers and, as a result, hold the industry’s gold standard qualification in the United Kingdom, which means we are amongst the most experienced within our profession.
For more than 20 years, we have helped investors save time, tax and money on their investments.
F3 Wealth is authorised and regulated by the Financial Conduct Authority(FCA number 827075 ) which means protections for private clients via the Financial Ombudsman Service(FOS) and the Financial Services Compensation Scheme (FSCS).
We provide investment management services to individual private clients and families, sizes ranging between £200,000 and £20m. Model portfolio services are also provided to professional clients, pension funds and small corporates.
We build strong working relationships with our clients by meeting with them regularly and taking an interest in their lives and their financial goals. We know the families we represent and we have built our business on results and recommendation