Expert Pension Advice

We advise on a wide range of pension types, including Defined Contribution (DC) schemes such as personal pensions, workplace pensions, and Self-Invested Personal Pensions (SIPPs). Our aim is to provide comprehensive guidance across all your pension arrangements to ensure they align with your overall financial plan. We do not provide advice on Defined Benefit (DB) schemes.

Pension contributions in the UK benefit from generous tax relief. For basic rate taxpayers, the government adds 20% to your contributions. Higher and additional rate taxpayers can claim even more through their self-assessment. Even non-taxpayers can claim tax relief on some contributions! Your pension savings also grow free of UK Income Tax and Capital Gains Tax. We'll help you understand your annual allowance and optimise your contributions to maximise tax relief.

Consolidating old pensions can simplify your financial affairs, reduce fees, and offer more investment choice. However, it's not always the best option. Some older pensions may have valuable guaranteed benefits, lower charges, or unique features that you could lose on transfer. We can conduct a detailed analysis of your existing pots, weighing the benefits against any potential drawbacks, before advising whether consolidation is suitable for your specific circumstances.

Pension freedoms, introduced in 2015, give you much greater flexibility in how you access your Defined Contribution pension from age 55 (rising to 57 from 2028). Instead of being largely restricted to annuities, you can now take a tax-free lump sum, enter drawdown (taking income directly from your fund), take smaller lump sums, or buy an annuity. We'll help you understand these options, their tax implications, and choose the most suitable strategy for your retirement income needs.

Historically, most modern pension schemes (Defined Contribution pensions) were not included in your estate for Inheritance Tax purposes, especially if you die before age 75. This means they would often be passed on free of IHT to your nominated beneficiaries. From 6 April 2027, however, the rules are changing and most pension funds will fall into the member's estate for IHT purposes. That said, the rules are complex and can depend on the type of pension, your age at death, and how long after nomination death occurs. We can provide specific advice on how your pension fits into your overall estate planning and IHT strategy.

The sooner you start seeking pension advice, the better. Even if retirement feels a long way off, early advice on contributions, investment choices, and understanding your pension types can make a significant difference to your future wealth. If you're approaching retirement, facing a career change, or considering transferring a pension, seeking advice becomes even more critical to ensure you make the right decisions for your financial future.

We specialise in advice on Defined Contribution (DC) pensions. We do not provide advice on Defined Benefit (often known as Final Salary) pensions or their transfers. Defined Benefit pensions come with guaranteed benefits that are often very valuable, and advising on them requires a highly specialised qualification and regulatory permissions. Given the reducing number of this type of pension, and the rrarity of genuinely beneficial DB transfers, we have made the decision not to incur the significant uplift in cost and regulatory requirements needed to advise on these policies. While they are a key part of overall retirement planning for some, our focus is on optimising and managing Defined Contribution pension arrangements.