Planning in the latter part of your working life is typically dominated by what you did or didn't do to  provide for your retirement. Unless you are fortunate to be able to rely on a generous final-salary pension (which itself now poses some questions about whether to transfer out), you face one of the most challenging management tasks of your life: working out when to retire and how much to spend without either underspending or running out of money, when these outcomes are themselves dependent on how you invest. And to the extent your capital is in pension accounts, you will need to extract it in a tax-optimal way to take optimal advantage of the new 'pension freedoms'.

You may not trust yourself to manage the process unaided but it is also quite possible, for good reason, you don't trust the industry either.

- Stuart Fowler

Late-stage Life Goals


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Telegraph interview

Stuart Fowler explains what the new 'Pension Freedoms' mean for retirees.




What makes a Retirement plan different from a Pension plan?

Can I afford to retire, or if I retired how much would I have available to spend?

How much more money or time do I need to achieve my retirement spending targets?

How certain can I be about spending levels?

Should I take less risk now I'm approaching retirement?

Can I plan with changing spending levels at different ages or different stages of retirement?

How can I be sure I won't run out of money when I retire?

Can I get by without expensive investment management?

Should I take more risk to be in with a chance of a better retirement outcome?

Pension accounts

What about combining risk with guarantees, isn't that better than an annuity or drawdown?

I am worried about the Lifetime Allowance Gap, how do I know how much more I can put into my pension?

What's so bad about buying an annuity? 

What do the new pensions freedoms mean for me?

Why should I consolidate all my pension accounts in a SIPP?

We've got many sources of capital we can draw down from to get funds, which one should we use first?

Can we get by without expensive pension advice?


I have a Defined Benefit pension with an old employer. Should I keep or transfer it?


Helping loved ones

How do we balance retirement spending with a desire to help children/grandchildren?

What's the most tax-efficient way to make gifts?

How can we minimise the Inheritance Tax without putting our own needs at risk?

Should we use savings to add to retirement funds, or pay down more of the mortgage early?

Does the new IHT band for homes mean we shouldn't  plan on trading down?

Is there a role for 'equity release' in retirement planning?



Should we add to retirement funds or pay down some of the mortgage early?


Weighing up a DB pension transfer


If you are not yet retired and entitled to a deferred pension from a funded final-salary (Defined Benefit) pension scheme, you should consider transferring out while the transfer values on offer are benefiting exceptionally from the combination of two factors. First, many DB schemes have 'derisked' and hold only low-risk investments. Second, the Government's policy of Quantitative Easing has led to negative real interest rates. For members of certain schemes, the chance of falling short of the pension you would be giving up has rarely, if ever, been as low.  

Read more about why this is happening 

Contact David Anderson, our Pension Transfer Specialist

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