Don’t simply retire from something; have something to retire to
Avoid the stress of shopping around for the best retirement plan and let us do the shopping around for you.
Our pension and retirement service will offer a tailored solution to different methods of accumulating retirement funds to suit your individual situation. We start by assessing your current arrangements and then create a bespoke financial framework to help you achieve the best possible outcome, allowing you to enjoy your retirement.
Whole of market research to find the best products
We shop around on your behalf to ensure you are getting the best retirement product to suit your lifestlye and future plans.
We take care of the paperwork and simplify everything for you
Leave the paperwork to us – we’ll take care of it and simplify everything to eliminate any misunderstanding and costly time delays.
One to one reviews of your pension performance
We provide regular reviews and monitoring to update you on your pensions performance.
Updates on industry changes
We keep you up to date with changes in pension laws and taxation to ensure you do not encounter any significant implications.
Ongoing Adviser support
We’re committed to our clients and providing an excellent service. Get in touch anytime you have a question and we’ll be happy to help.
Office and home visitations
You can choose to meet with us at our office or in the comfort of your own home.
Saving towards retirement
Financial freedom is a key ingredient to a more fulfilling and enjoyable retirement. Your retirement income, including any pension arrangements will basically be dependent upon how much money you have saved before reaching your planned retirement age. Put simply, the less you have saved, the less you will get. It is therefore crucial to maximise every opportunity to increase your savings, pre-retirement to allow greater financial freedom.
Income during retirement
An adequate sustainable income during retirement is crucial to your well being. Our bespoke financial plan will help you manage your income during retirement, budget your day to day finances, prevent any unnecessary stress and allow you more time to enjoy your retirement. Our regular one to one reviews keep you up to date, covering items such as investment performance, changes in taxation and regulation along with cash flow forecasts for the years ahead.
Pension freedom solutions
Income Drawdown
An alternative to purchasing an annuity is to leave your pension invested, and take a portion of the pension pot each year as an income, hence the phrase ‘income drawdown’. The pensions changes that came into effect in April 2015 make it easier than ever to take an income from your fund.
Income drawdown which you may also hear referred to as an unsecured pension – has the advantage of possibly leaving your family a legacy when you die as your pension pot will pass on to your family according to your wishes. Depending on the age you are when you die, the unused pension pot you pass on may be tax-free. If you are under 75 when you die, your dependents will receive a tax-free payment. If you are 75 or older, the payment is taxable at the beneficiary’s income tax rate.
Investment Portfolio
Investment portfolios are made up mainly of securities, such as stocks, bonds, mutual funds, money market funds and exchange traded funds. Their ability to diversify into different asset classes can be a distinct advantage in reducing investment risk. Investment portfolios can be tailored to your specific risk profile.
Stocks & Shares ISA
Stocks and shares ISAs are free from both income tax and capital gains tax (CGT), which can be charged at up to 28% if you make a gain of more than the annual CGT allowance.
You can transfer money invested either this year or in previous tax years between both cash and stocks and shares ISAs without losing the tax-free status – as long as you do not physically withdraw the money.
And the good news is that you can now shelter up to £20,000 from tax in an ISA, either in cash or in stocks and shares.
Equity Release
Equity release is the name given to a range of products that let you access the equity (cash) tied up in your home if you are over the age of 55. You can take the money you release as a lump sum or, with some schemes, several smaller amounts. There are two main equity release options:
Lifetime mortgage: you take out a mortgage secured on your property. Unlike an ordinary mortgage, you don’t normally make any repayments while you’re alive. Interest is added to the loan and the loan amount and interest are paid back when you die or when you move house.
Home reversion: you sell part or all of your home to a home reversion provider in return for a lump sum or regular payments. You have the right to continue living in the property until you die, but you have to agree to maintain and insure it.
Interested In Working With Us?
Contacts
George - Accounts, Tax & Advisory
Lana - Accounts, Tax & Advisory
Dale - Financial Planning
Luke - Mortgages
Address
28-29 New Road
Kidderminster
Worcs
DY10 1AF
Telephone
01562 68926
07903 039 648
Powell & Associates is a trading name of George Powell & Associates Ltd, a limited company registered in England & Wales under company number 10619325. Our registered office is: 28-29 New Road, Kidderminster, Worcs, DY10 1AF, UK. Powell & Associates is authorised and regulated by the Association of Chartered Certified Accountants (ACCA), registration number 3918909.
Powell & Associates investments and pensions is a trading style of BBI Independent Financial Advisers Ltd Authorised and Regulated by the Financial Conduct Authority under registration number 471166.