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Pension Planning Advice

Vance Financial Management offer an extensive range of advice with pension planning depending on when you start your plan.Pension Planning

What We Can Help You With

  • Setting up a pension plan
  • Reviewing your existing pension plan
  • Pension drawdown
  • Pension consolidation
  • Pension freedoms
  • Annuity advice

Planning for retirement

Firstly, the amount of money the client has available needs to be calculated after which we can offer advice on the various investments that can allow you to enjoy a good retirement as well as investing in funds that will deliver the growth required.

Pension Freedoms

Anyone aged 55+ can take their entire pension savings as a lump sum, the first 25% coming tax free. Taking a lump sum is appealing to many, particularly if there is a need to pay off debt, like a mortgage, however, this will reduce your income during retirement.

Pension Transfer or Consolidation

Ensuring you get the most out of the contributions you’ve made and keeping track of your pension portfolio is important so it remains appropriate to your needs. Consolidation of your pensions is a straightforward way to achieve this, involving moving a number of pension plans into one single plan where possible.


Historically, annuities were the primary option to provide income from pensions with 25% of the pension fund taken at retirement, tax free, and the remaining 75% is given to an insurance company. This provides a low-risk, guaranteed income that is consistent or increases until death.

At-Retirement Planning

This is the most important part of planning as there is a wide range of choices to choose from. And some of the choices, like purchasing an annuity are irreversible. Therefore advice should always be sought. Vance Financial Management will guide you through this decision making process that offer choices that are tailored to your needs.

Post-Retirement Planning

Once in retirement, because of the ever changing financial and economic climate, Vance Financial Management provides essential on-going advice to maintain your standard of living.

Also, your circumstances and requirements will change over time. Therefore, at Vance Financial Management, we offer reviews that will provide the support that you need.