A pension is simply a savings plan that can help you save money for your retirement.
Pensions are a tax efficient way to save. You usually receive tax relief on the contributions you make into an approved pension. Money invested through a pension grows tax-free during your lifetime. When you decide to access your pension, usually from age 50 or 55 depending on the type of pension you have, you would typically be able to take a tax-free lump sum before you decide on an income option. Income can often be delayed if not required, but this will depend on the options available from your pension provider.
Pension legislation has changed several times over the years, and as a result there are a number of different rules that govern what options you have. Our advisers can help you understand pensions and how they can work and integrate with your retirement planning.

We can help ensure you get the very best from your pension(s) by helping you:
Choose the right type of pension for you
Work out how much you should be paying into your pension to meet your retirement
Understand how much income you might need during your retirement
Review and help you understand the options on your existing pensionsnd how much income you might need during your retirement
Ensure your pension is appropriately invested in line with your attitude to risk and objectives
Regularly review your pensions to ensure they continue to meet your retirement objectives
Ensure you have a sustainable level of income during your retirement
Ensure that you are aware of all other potential retirement income sources, such as ensuring you are up to date with your State Pension entitlement (on the Isle of Man and/or in the UK)