Retirement & Pension Planning

Take steps to avoid working until you drop

However much you like your job, there’ll probably come a point when you decide it’s time to stop. One thing’s for sure, you’ll need more than just the State Pension if you want to enjoy life to the full when you retire – so it’s important to start planning for the future right now.

What is retirement planning?

As you go through life, you accumulate a range of valuable assets, including your home, savings and investments, pensions and inheritances. Retirement planning focuses on using these assets to generate the income you’ll need to stop working or reduce your hours as you get older.

For many people, a pension is a key part of their retirement strategy. There are a number of options available, from low-cost stakeholder pensions and self-invested personal pensions (SIPPs) to income drawdown and annuities. Your choice of products will depend on whether you’re employed or self-employed, your attitude towards risk, how you’d like your money to be invested and your tax rate.

Why you should consider it

  • Not everyone is physically able to work all their lives. Retirement planning will ensure you have options when poor health or old age slow you down.
  • Amid concerns that the current State Pension system isn’t affordable in the long term, a Government review may result in raising the retirement age to 75.
  • A pension isn’t right for everyone – so it’s worth exploring all your options before you decide on a retirement strategy.
  • The Government announced pension freedom in the 2014 Budget and this started in the 2015/16 tax year. It means anyone aged 55 and over can take the whole amount as a lump sum, paying no tax on the first 25% and the rest taxed as if it were a salary at their marginal Income Tax rate.

How we can help

Macbeth’s financial planning specialists can work with you to assess your retirement goals, looking at how much you need to save to achieve them. Because our services are fee based, we’re able to provide unrestricted advice with no bias towards particular products.

A pension is a very tax efficient long-term savings plan, but it may not give you enough income to retire on. Once we’ve established your current financial situation, we can formulate a plan to improve it – and see what income can be generated from your assets, now and in the future.


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Martin Williams






Macbeth Financial Services Ltd is an Appointed Representative of 2plan wealth management Ltd. 2plan wealth management Ltd is authorised and regulated by the Financial Conduct Authority. It is entered on the Financial Services Register ( under reference 461598  |  Registered in England & Wales No. 8542176  |  Registered Office: 4 Commerce Park, Brunel Road, Theale, Reading, Berkshire, RG7 4AB

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