“Independent Financial Advisers,       Peterborough and London”

01733 355120

02036 377140

enquiries@hensoncrisp.com

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Pensions Advice

How does a pension work?

A pension is basically a long-term savings plan with tax relief. Your pension contributions are invested so that they grow during your career and then provide you with an income when you retire. Your state pension, whilst giving you a basis for your retirement fund may not be enough to cover your needs.

The value of your pension can fall as well as rise and you may not get back the original amount invested.

Auto Enrolment and SSAS are regulated by the Pensions Regulator.



What should I consider for my retirement?

When planning for your retirement, the following should be considered: how much income you are likely to require when you retire, how much you are likely to receive by way of a pension to live on and what is the expected shortfall between your likely expenditure and your likely income?



Find a lost pension

Find a lost pension by contacting the Pension Tracing Service online. You'll be asked to fill in a form. This service is free Start now



Is my pension likely to be enough?

Many people in the UK either aren't saving at all for their retirement or they aren't saving nearly enough to give them the standard of living they hope for when they retire.

You can apply for a State Pension statement by filling out a BR19 form. You'll need to fill it in, print it and then post it to the department of work and pensions. Find out More »



Calculate your pension shortfall

Calculate how much retirement income you might receive from saving in a personal, stakeholder or group personal pension using the pensions shortfall calculator



Registered pension schemes

Schemes to provide pensions are called registered pension schemes.

These often fall into the categories of defined benefit arrangements and money purchase arrangements.

Defined benefit arrangements

These are being phased out as they often rely on final salary and length of service in a firm, they are becoming unaffordable with people living longer in retirement and the recession.

Money Purchase Arrangements

These are often known as defined contribution schemes, where benefits are dependent upon the funds built up for the member.

  • Personal pensions
  • Stakeholder pensions
  • SSAS
  • SIPP
  • FSAVC


The Pension market is forever changing and highly complex. Please call us so that we may offer our advice in helping you make the best choice for your future needs. We can help you assess your likely expected pension and look at ways you can address any shortfall.



The main types of Pension:


George Osborne plans to remove death tax

Latest News on Pensions

Death tax on pensions abolished

George Osborne has abolished the 55 per cent tax rate which is currently applied to pension pots left by savers to their children. This could lead to an increase from savers switching cash from bank accounts into retirement schemes to avoid inheritance tax.

Pensions Freedom

The government have made it possible (in April 2015) for people to withdraw their defined contribution pensions savings however they wish, subject to income tax.

Those with defined contribution pensions who are aged at least 55 now have the option to take a tax free-lump sum and a lifetime annuity. However some of the restrictions on a lifetime annuity will be removed to allow more choice on the type of annuity taken out.

The minimum pension age will be increased from 55 to 57 in 2028.

State Pension

Important Changes to your Pension - Post Budget 2014

From April 2015, the government have made it possible for people to withdraw their defined contribution pensions savings however they wish, subject to income tax.
 From 6 April 2015
Find out More »

State Pension

A State Pension

Today the maximum basic State Pension you can get is £155.65 per week for a single person (2016-2017).

Find out More »

State Pension

The New State Pension

The New State Pension will be a regular payment from the government that you can claim if you reach State Pension age on or after 6 April 2016. You'll be able to get the New State Pension if you're eligible and: a man born on or after 6 April 1951 or a woman born on or after 6 April 1953. The new State Pension will replace the current State Pension scheme.  From 6 April 2016
Find out More »

State Pension

Personal Pension

A personal pension is one way you might choose to save for your retirement. Personal pensions can also be called money purchase pensions or defined contribution (DC) schemes. They may be suitable for you if you are working but are not eligible for automatic enrolment into your employer's pension scheme, you're self employed or you're not working.

State Pension

Stakeholder Pension

These are a type of personal pension but they have to meet some minimum standards set by the government. Stakeholder Pension plans are similar to Personal Pension plans in that you can take them with you if you change jobs.
Find out More »

Registered pension Scheme

SIPP and SSAS

Self Invested Personal Pensions and Small Self Administered Schemes. The aim of SIPP and SSAS schemes is to provide benefits for retirement, death, attaining a particular age or in the event of serious ill-health, incapacity or similar circumstances. Both are member-directed pensions.

Workplace Pensions

Workplace Pensions and Automatic Enrolment

Between October 2012 and February 2018 employers are now having to offer workplace pensions. This is called automatic enrolment. your employer must enrol you into their workplace pension if you are an eligible employee.

Auto Enrolment and SSAS are regulated by the Pensions Regulator.

A PENSION IS A LONG TERM INVESTMENT THE FUND VALUE MAY FLUCTUATE AND CAN GO DOWN. YOUR EVENTUAL INCOME MAY DEPEND UPON THE SIZE OF THE FUND AT RETIREMENT, FUTURE INTEREST RATES AND TAX LEGISLATION.


Wealth Managment and Later Life Advice

Henson Crisp Ltd are Independent Financial Advisers (IFAs) based in the city of Peterborough. We provide high quality Financial Advice, Financial Planning & Wealth Management advice. Our advisers are able to advise on a range of financial areas from investments and savings, retirement options, tax planning and business information to advice at Later Life and care fee funding options.

The value of your pensions and investments and income from them may go down as well as up. You may not get back the original amount invested.


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Our London Office

25.03.15

We have recently opened our London office; many of our existing clients are based in London.

London Office



i2 Office, No.1 Royal Exchange, London, EC3V 3DG

T:020 37516510

E: enquiries@hensoncrisp.com


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Later Life Advice

When you save for a pension, you shouldn't focus only on how much you're putting into it. You should also regularly review how it's being invested. And as you get older, you should probably change your investment strategy to reduce risk as retirement draws closer. This is where we can help.

We pride ourselves in our expertise we can offer in this area. We will look at getting you the best possible retirement that your savings, Investments and pension will allow and cover any protection issues like Long Term Care.

There are many options for funding long-term care and they can often be complicated to understand. Long Term Care expert advice can give you peace of mind to those needing care and to their family.

We can discuss the many care fee funding options available including immediate need care fee payment plans and deferred payment agreements.


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Pensions & Retirement Options

Pension Planning

It's essential that you review your pension situation regularly. We can help you with taking steps to make it more certain that your pension pot will be able to achieve the income you want when you retire.

We can help you look at your retirement options and make sure you're making the most of tax benefits when paying into a personal pension and advise on consolidating any earlier pension schemes you may have entered into with previous employers.

Let us explain the new pension freedom changes happening in April 5th 2015 which give you more choice on Annuities and Income Drawdown.

The value of your pension can fall as well as rise and you may not get back the original amount invested.


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Investments and Savings Advice

Our team of advisers assess where you are financially and where you'd like to be positioned to cope with future life stages. It's important to make sure your investment planning is on track

We can advise on a range of products, including but not limited to:

Property Investment

Premium Bonds

National Savings Certificates

Individual Savings accounts

Investment Bonds

Offshore Investment Bonds

Unit and Investment Trusts

Share Portfolios

The value of your pension can fall as well as rise and you may not get back the original amount invested.


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Long Term Care

The options for funding long-term care are varied and can often be complicated. So if you or a loved one need to pay for care at home or in a care home, it's important to know the facts.

We can discuss the many care fee funding options available including immediate need care fee payment plans and deferred payment agreements.


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Tax Planning

For those with large portfolios or whose estates fall into the Inheritance Tax trap specialist independent financial advice can provide you with tax mitigation strategies to minimise your tax liability.


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Business Advice

If you're a business owner it's a good idea to seek guidance from an independent financial adviser (IFA) as we can help you with the financial matters that are the foundation of every business. We can give you advice on how to structure your company, insure your business, protect your employees' financial well-being and protect the business if a key employee cannot work.

Covering but not limited to:

Business Protection - Providing Cover for Key Personnel, Directors and Groups. Providing replacement income if an employee is absent from work through long-term illness or injury.

Employee Benefits - Advising on benefits such as pensions and life protection to your employees.

Directors Pensions - The aim of a Director's Pension is to build up a sum of money in a tax-efficient way that will be used to provide you with an income when you retire.

Auto Enrolment - A workplace pension is a way of saving for your retirement that's arranged by your employer.


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Advising on your savings and investments for your future

Our independent financial advisers can offer expert financial advice to both individuals and businesses

We're here to assist you in all areas of financial planning, helping you to achieve your financial and lifestyle goals and protect all that's important. The type of advice we give you can depend where you are in Life.

For instance at Pre-Retirement we would help you in ensuring that sufficient reserves have been built up to provide the desired level of retirement. Whereas at Later Life we would be looking to ensure you're enjoying the best possible retirement that your savings and pension will allow and minimising inheritance tax on anything that you wish to pass and perhaps investigating Long Term Care options.

The value of investments and income from them may go down. You may not get back the original amount invested.



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Useful Articles on your Pension Pot

21st Oct 2015

Planning for Retirement The importance of Planning for Retirement
10 Top Retirement Planning Tips Pension Forecast, carry on working, defer pension income and more
Getting the most from your Pension Savings, Tax Relief, Reviews
Pensions advice for self-employed What you should consider on Pensions if you're self employed
Taking regular withdrawals from your pension pot? The danger of taking regular withdrawals from your pension pot
How big should my pension pot be? Anything from £12,000pa to 2/3 of your salary


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The importance of Planning for Retirement

Once you reach the stage where you're considering your retirement income, expert financial advice becomes even more important. Many of the choices you make at this time will affect your lifestyle so you need to make sure they're right.

A pension is a form of investment or savings plan designed to provide you with an income to live on when you retire. There are many different types of pension arrangements available, including the state pension.

Options are varied and can be tailored to your circumstances.

Find out More on Planning for Retirement »  Planning for Retirement




10 Top Retirement Planning Tips

Let us help you to get the most from your retirement. You need to look at finances and seek advice if needed, also think about making the transition from work to retirement as smooth as possible. It can prove difficult going from full time work to being at home.

10 Top Retirement Planning Tips, Find out More   Find Out More »




Getting the most from your Pension

Do you want to know how to get the most from your pension?

There are a number of things you can do to improve the performance of your pensions.

How to get the most from your Pension  Find Out More »




Pensions advice for self-employed

You can't rely on the state pension for your retirement

It's really important to start planning ahead as soon as possible, so that you can live life the way you want when you retire.

Being self-employed can leave you vulnerable when it comes to your pension. It is very likely you will need another pension, apart from the state pension, in order to retire comfortably.

Our advisers are qualified to offer comprehensive guidance on taking out a personal pension. When it comes to your pension it's important you take proper advice.




Do you want to find out more on Pensions advice for self-employed?   Find Out More »




The dangers of taking regular withdrawals from your pension pot

Following changes introduced in April 2015 you have more choice and flexibility than ever before over how and when you can take money from your pension pot. It's important to take your time to understand your options, and get the right help and advice. What you decide now will affect your retirement income for the rest of your life.

Using the new freedoms to make regular withdrawals without keeping a close eye on the markets and their effects on your fund is a dangerous route.

The danger of taking regular withdrawals from your pension pot  Find Out More »




How big should my pension pot be?

Anything from £12,000pa to 2/3 of your salary?

Everyone wants to save enough to ensure they have a comfortable retirement. But it's difficult to know just how much income you'll need as a pensioner.

Many experts are saying 2/3 of your income to live very comfortably (and maintain their lifestyle) and £12,000* for a very basic standard of living.

Do you know how big should my pension pot be?   Find Out More »





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Henson Crisp ~ Qualified Financial Advisers Peterborough and London

What do our clients say about the financial advice they receive?

Friendly yet professional service, we have known Jonathon for many years after we were referred to him by a Mortgage Advisor. He has provided us with sound financial advice in this time and we trust his judgement wholeheartedly. As a result we have referred Jonathon to numerous other friends and family, who are equally trusting of him and the services he is able to offer.

Ian and Wendy Hodges-Jackson

When the time came to look closely at my pension plans I knew that I would need help. I am used to dealing with quite complex financial matters, but pensions are different with constantly changing rules / laws, and great care needs to be taken to ensure that you get the best result for your future needs. It is an extremely important decision which I felt required expertise from people used to dealing with such matters. I felt at ease in all my discussions with Rachelle Jordan from Henson Crisp and felt confident that they would do their best for me. At all times I knew where I stood regarding fees etc., and all the intricacies of the pension plans were explained to me carefully, efficiently. and in a friendly manner .

Mr & Mrs N Ely

>> Click here to see what our clients have to say <<


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Contact Henson Crisp ~ Financial Advisers Peterborough

Contact:

Henson Crisp
Peterscourt
City Road
Peterborough
Cambs
PE1 1SA
Tel: + 44 (0)1733 355120
Email: enquiries@hensoncrisp.com


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