RETIREMENT PLANNING

Factors we need to consider

Case Studies

Michela B. – North Yorkshire – February 2021

Michela contacted us as she had various pensions, built up from previous employments. She was unsure of whether these plans would be sufficient for her needs in retirement, whether they or (given her proximity to her retirement retirement age now) were subjecting her retirement funds to a comfortable level of investment risk.

On reviewing Michela’s pension plans, it was evident that they remained cost effective and suitable for her needs, however the investment strategies needed bringing in line with Michela’s agreed risk profile.

We switched Michela into suitable investment funds within her pensions and agreed to continue reviewing the plans on an annual basis.  After we implemented this advice, Michela was kind enough to leave us the following testimonial on the independent review site – www.vouchedfor.co.uk:

“I was considering an early retirement and I wanted to understand if I could afford not working full time.

Graham explained very clearly how my private pensions work, advised the best way forward and outlined the costs involved in taking his advice.

I am very pleased with the service, Graham was very precise, replied timely to my requests and was very patient waiting for my replies. We met in person twice and I look forward to our yearly meeting to assess my pension situation.”

Ken J. – North Yorkshire – January 2023

Ken got in touch with us as he had been made redundant from his job and (like many people) he had several pensions from different previous employments and was not sure what they all meant in terms of his future retirement.  Ken was also keen to review his pension plans, which had not been reviewed for many years, to ensure that they were suitable for his needs and were working well for him.

On reviewing Ken’s pension plans, it was evident that his existing plans were not very cost effective, were not performing particularly well and offered a minimal choice of alternative funds.  Further to this, they did not provide access to flexible income options in retirement, which was an important requirement for Ken.  One plan had even been sat invested in a cash fund for several years, after the previous fund closed down.  As a result, Ken had lost out on a lot of potential growth over those years.

Ken’s plans were all consolidated within a new, cost-effective plan, which provided access to a good range of investment funds, as well as the full range of flexible income options.  His plan was invested in a cost-effective, independently rated investment strategy, in line with his agreed risk profile and we agreed to review Ken’s plan on an annual basis.  After we implemented this advice, Ken was kind enough to leave us the following testimonial on the independent review site – www.vouchedfor.co.uk:

“Having recently been made redundant I made the decision to sort out my pensions and try and formulate a plan for the future. I searched the internet on various websites for a reputable IFA in my area. Graham’s name appeared, and he was also based in my local area. After reading the reviews his customers had posted I decided to take the plunge and give him a call.

Graham was, and still is very helpful. We discussed what my aspirations for the future are, and after reviewing my pensions and talking about the numerous options available to me, what the best way forward would be. The advice he gave me on my pensions will save me money in running costs and should hopefully give me a greater return. Everything has been explained to me throughout the whole process, and I feel I am now more understanding of how and what I am able to expect when I retire. I look forward to accepting many more years of valuable ongoing advice from Graham in the future.

I am very pleased that Graham has now organised all my pensions for me, and they are all together with one provider, that gives me the access I want when I retire, and hopefully the increased return.”