Pension Advice Islington -We can help you build a better pension…..
We can identify how much you need to save towards your retirement by taking account of what you already have and what you need to do to meet your retirement goals.
We can analyse your existing pensions to determine how effective your pension is in meeting your retirement goals.
We can help you work out your attitude to risk by taking account of your financial position and determining your views on investment risk. A risk score is then determined ranging from 1 being the most risk averse to 10 being the most risk seeking.
We have pension portfolios for each risk score which have been constructed by applying modern portfolio theory.
Analytics are used to construct diversified portfolios with the highest mathematically expected return for each risk score.
Asset allocations and underlying funds are reviewed regularly through the economic cycle.
Your pension portfolio is rebalanced to meet your specific requirements.
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Open Market Option, Annuities and Drawdown
When you retire, it can be tempting to succumb to the first fixed rate, level annuity quote you receive. However, with a longer life expectancy your annuity might have to pay out for considerably longer- and, despite its seeming irrelevance at the moment, inflation can seriously impact your spending power over that time. It is therefore sensible to shop around.
There are various options to choose from if you want to make the most of your money. For example, there is an index-linked annuity, which is tied to the rate of inflation, and there is also an escalating annuity, which rises at a fixed rate each year, regardless of inflation (in other words, some years the rise may be greater, some years it may be less).
For the more adventurous, you could even link your income to the ups and downs of investments (providing you are prepared to take the risk).
All of these options are likely to offer a lower starting income than the equivalent level annuity, but over the long term, your ability to afford the same lifestyle could be better protected. Of course, your circumstances may mean a mixture of annuities is appropriate. Or, depending on your appetite for risk, and size of your fund, you might even have the option to defer the annuity purchase. If you can leave that until later in life, or if you suffer from poor health, the potential for higher income from a level annuity may outweigh other issues.
Whatever you decide, make sure you shop around. You can’t change your annuity once you’ve bought it, so pick the right one.
Call us now 0207 2886400, we’re here to help.