Retirement Planning

Despite many rounds of ‘simplification’, pensions remain complicated. People should tread with care to avoid losing valuable benefits which have accumulated in their existing pension contracts. Taking expert advice on the best way to use your pension arrangements is very important both for an efficient accumulation of wealth and for the most sustainable use of this wealth for life. At Oakley Place we have many years of experience working with complex pensions and advising clients on the most efficient methods of using these to provide a valuable sustainable income throughout retirement.

Since 2015, in the UK, people have had greater freedom than ever before in how they withdraw money from their pension policies in retirement. Whilst this appears to simplify the decision-making process in retirement, there are many potential pitfalls in withdrawing money in the wrong way, in terms of tax efficiency, sustainability and succession planning.

Personal circumstances will dictate the best way of taking benefits from your pensions. In some scenarios, specifically not withdrawing money from your pension in retirement can be the best option! Therefore it is essential to get reliable advice and assess the options that are available to you.

As part of your long-term relationship with Oakley Place we will consider the various options available at any time in accumulating and decumulating assets as part of your overall financial plan. This will include cash flow modelling (the method of projecting the value of your capital and income for the future) which will be regularly updated to reflect your changing circumstances and objectives. For more information on cash flow modelling, retirement planning and the financial planning process with Oakley Place, please navigate to the Financial Planning Process page or simply get in touch with us.