Pensions & Retirement
It is never too early to consider retirement planning. However, once you reach the stage of considering your retirement income, professional financial advice becomes even more important. The choices you make at this time will affect your lifestyle, so you need to make sure they are right.
Pensions can be an effective form of tax planning, based on current rules, enabling tax-free growth and a tax-free lump sum. Depending upon individual circumstances, you may be able to reduce immediate income tax bills through pension contributions. However, for deaths occurring on or after 6 April 2027, passing on most unused pension funds to the next generation may incur an Inheritance Tax liability, as these funds will be included in your estate for IHT purposes.
It is essential that you review your pension situation regularly. We can advise you on taking steps to maximise the income your pension pot will be able to achieve when you retire.
We can guide you through this and other key life decisions and advise you on tax-efficiency, helping to make sure that you are saving enough into your pension, enabling you to enjoy the retirement you deserve.
Options are varied and will be tailored to your circumstances.
Advice on taking benefits from pension schemes
We are experienced in providing advice on the many options available when taking benefits from pension schemes, including:
- Flexi-access Drawdown
- Phased Retirement
- Pension Lump Sum Investment/Portfolio Planning
- Capped Drawdown Review
- Annuity Purchase
- Impaired Life/Enhanced/Smoker Rate Annuities
- Investment Linked Annuities
Decisions made today impact on your retirement income and lifestyle, so it's important to get the right advice.
That's where we TL Dallas Independent Financial Services Ltd can help.
The value of your investment or pension can fall as well as rise and you may not get back the original amount invested.
Your pension income could also be affected by the interest rates at the time you take your benefits. The tax implications of pension withdrawals will be based on your individual circumstances, tax legislation and regulation which are subject to change in the future.
Your pension income could also be affected by the interest rates at the time you take your benefits. The tax implications of pension withdrawals will be based on your individual circumstances, tax legislation and regulation, which are subject to future change.
The levels, bases and reliefs from taxation are subject to the individual circumstances of the investor and may be subject to future change.
The Financial Conduct Authority do not regulate tax planning, estate planning, or trusts.