As our client began to consider options around moving to part-time work, with an eye on the future and stopping work altogether, they began to seek an understanding of what their options were.
With other investments made throughout their life and several pensions accumulated throughout their career, spanning several different schemes with different types of benefits, our client wanted to be confident in a solution that provided the best options whilst bearing in mind their ongoing, short-term, employment.
They had an idea of what income they needed to enjoy their retirement and now wanted to make sure that their affairs were structured in the most efficient manner to achieve this.
After establishing what our client wanted to achieve, we assessed the complexity of their current situation and produced a solution that provided them with control and confidence.
At a glance, our pensions and retirement advice:
After meeting with our client we established and analysed the current arrangements. It became clear that the existing investments and pension schemes in place were complex:
Our client explained: “Before making any formal recommendations the Canter Holland team contacted each of my pension scheme and ISA providers. The team obtained full, up to date details of the value of the benefits and the form in which my benefits could be taken.
“Armed with this information they explained the various options available.”
It was agreed that the best way to structure the cash and income from the pensions would involve retaining the pensions with guaranteed annuity rates, along with the final salary benefits.
We immediately recommended taking the benefits from the pension that provided a Guaranteed Minimum Pension to secure the available annuity and consolidated the remaining money purchase schemes into a flexible Personal Pension. The ISA investments were consolidated with one provider and the income generated forms part of the overall income required.
Altogether, we determined the most appropriate guaranteed annuity to take from the options available and the best combination of tax free cash and income from our client’s final salary pension – all to suit their circumstances.
Our client also benefits from our liaison with their various pension providers:
“Canter Holland always ensured they provided accurate information and requests were actioned promptly.”
“This was particularly important, given some of my benefits carried an expiry date. The money was transferred smoothly into the flexible Personal Pension and their investment management team ensured the trades were affected in line with our strategy,” our client explained.
“My retirement strategy formulated by the team at Canter Holland gives me peace of mind which allows me to enjoy life and not have to manage everything myself”
As a result of our pensions and retirement advice, our client can now enjoy the benefits including:
Learn more about how we can help plan for a successful retirement
Call 0845 127 1444 or hello@canterholland.com