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  • All your options explored including Equity Release.
  • Pension and Investment help with Drawdown explained.
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As one of the most respected specialist retirement advisers, Better Retirement will be pleased to help you make the right decisions at any stage of your retirement journey.

Further Information 

An annuity is a guaranteed annual income either for life or a fixed term (determined by annuity rates). An annuity has the best possible ‘government’ protection and even if the annuity provider goes out of business the amount of annuity you are receiving is guaranteed to be paid in full by the Financial Services Compensation Scheme (only applies to lifetime annuities). An annuity is probably the safest and surest form of pension you can have.

Alternatively, you can go into a Self-Invested Personal Pension or SIPP (the Vanguard SIPP for example) and take an income through pension drawdown or flexi access drawdown.

There are many companies who offer very good SIPP’s and ‘Pension Drawdown’ or ‘flexi access drawdown’ products such as Royal London pension, Aviva pension, Aegon pension, Scottish Widows pension, Standard Life pension, Prudential pensions and other private pension arrangements.

A guaranteed pension, taken at pension age or state pension age or your retirement age uk, is a guaranteed retirement income with no investment risk. Examples of guaranteed income pensions are: 

  • NHS pensions
  • Government pension
  • State pension
  • Teachers’ pension
  • Civil Service Pension Scheme
  • Local Government Pension Scheme or pension fund
  • Other final salary pensions
  • Annuity determined by Annuity rates

Only the annuities though are covered by the guaranteed income scheme the Financial Services Compensation Scheme. Company pensions are not covered by his scheme but a different scheme where, up to a certain amount 90% of your pension is guaranteed. So, once again a lifetime annuity is, by far, the safest pension i9ncome you can get. And there may be certain circumstances where giving up your final salary company pension my, indeed, give you a higher and more secure income. These circumstances usually involve poor health or reduced life expectancy.

A non-guaranteed income where you take the investment risk such as pension drawdown or flexi access drawdown. This is where you treat your pension fund almost like a bank account and you take your pension income from that account. But the total amount you can take will be determined by how long you live, how much you take out and how well that fund grows with interest/investment growth. But you are taking all the investment risk. If markets crash and your fund goes down by half then the amount of income you can take may be severely reduced.

A ‘workplace pension’ works in the same way in that it is a ‘defined contribution’ or ‘money purchase’ pension where you accumulate a pension fund and how much it grows is largely determined by how much you and your employer pay in and how well the investment performs. Then, once you retire you can use the fund you have accumulated to either buy an annuity for a guaranteed income or go into pension drawdown.

You may have a ‘Nest Pension scheme’ which also works in the same way as a workplace pension.

If you are looking for pension advice we can help, from understanding what a guaranteed minimum pension is to help with a pension transfer (we even help people transfer into their Hargreaves Lansdown SIPP).

We can also help if you are looking for best annuity rates, a pension annuity, or help to explain your GMP pension. Pensions really are a complex minefield.

Other areas we can help with are:

  • Pension allowance
  • SIPP Pension
  • Best pension provider
  • Annuity rates
  • QROPS
  • Defined Benefit pension also called a Final Salary Pension
  • SSAS pension
  • Best pension plan
  • Private pension scheme
  • Pension drawdown

It does not matter if you have a Prudential AVC, a Personal Pension Plan, or a ‘Now Pensions Gateway Pension’, we have the pension service you need.

We can find for you the best ‘private pension’ or ‘self-employed pension’ available from all pension providers, and drawdown & personal pension providers, of UK pension scheme.

It is also a very good idea for you to do a “my state pension” forecast and or something called a BR19. You can use these links to help you with your ‘basic state pension’:

Check your State Pension amount:

https://www.gov.uk/check-state-pension/sign-in/prove-identity

Check your National Insurance history to ensure you get the maximum State Pension:

https://www.tax.service.gov.uk/check-your-state-pension

Follow the instructions to see a page that looks like and includes the following:

If you click on ‘View your National Insurance Record’ you can view your full record, download the record and identify any gaps. For those who don’t have a pre-6/4/16 NI record, to qualify for the full basic state pension, you'll usually need at least 10 qualifying years on your National Insurance record to get any State Pension. You'll need 35 qualifying years to get the full new State Pension. You'll get a proportion of the new State Pension if you have between 10 and 35 qualifying years.

There has, over the last few years been some significant tate pension changes effecting the UK’s old age pension and pension age uk. These changes are also affecting a great many people, women in particular and there is a movement called Women Against State Pension Inequality. For WASPI latest please see here:

https://www.waspi.co.uk/

Will WASPI succeed? We suspect not.

Your DWP pensions, the state pension 2019, bereavement allowance, state pension married couple, maximum pension contribution, state retirement age and maximum state pension, are just some of the areas we can give further help.

We can also help with locating pensions you may have lost (lost pensions) and with ‘find my pension’.

We can help you with ‘the pension finder’ and the ‘Pension tracing service’ which you can find here:

https://www.gov.uk/find-pension-contact-details

There are also bespoke company individual services such as “my Aviva pension” or “locate a pension lump sum”.

We can also help to locate, or just general help with you to locate pension companies or pension plans for:

  • Standard Life Pension Funds
  • A work pension,
  • AEGON Target Plan Reassure Pension
  • Scottish Widows fund prices
  • Stakeholder Pensions
  • Professional Pensions
  • HSC pensions
  • Peninsula Pensions
  • Barclays pensions
  • AVC pensions

We can also help to explain other ‘State Pensions’ such as Police Pension, LGPS Pension (LGPS), Teachers Pension Scheme, NHS Pension 1995 Scheme, NHS Pension Scheme, Civil Service Pension Scheme, Armed Forces Pension Scheme etc. Currently, none of these schemes can be transferred into Flexi-access drawdown but there are other options which we may be able to help with. 

Many pensions are administered by separate companies such as mercer pension. The Tesco pension, USS pension and other defined contribution pension schemes for example. If you left a company some time ago you may well have what is called a ‘deferred pension’. A deferred pension is usually derived from a defined benefit or final salary company pension scheme and we can only really help with these if you have quite a severe health condition where we may be able to find you a higher guaranteed income than your company scheme is offering.

If you are in a ‘money purchase’ or ‘defined contribution’ company scheme then you will have a pot of money you can use to either buy an annuity or to go into pension drawdown.

We can also help in the areas such as:

  • Widow pensions
  • Work and pensions
  • ER pension
  • Pension lifetime allowance.
  • DHL pensions
  • B&CE pension
  • Friends life pension
  • Army pension
  • Benpal pension
  • Claiming state pension
  • Government pension scheme
  • Pension changes 2019
  • Current state pension
  • Tapered annual allowance
  • Deferring state pension

Better Retirement Group (BRG) also offer ‘your pension service’ where we can help with:

The money purchase annual allowance,

  • HMRC pensions,
  • EE pension
  • The annual allowance
  • Pension annual allowance
  • SERPS pension (State Earnings Related Pension Scheme). And
  • The new state pension and
  • State pension entitlement and
  • Gov pension and your
  • Lifetime allowance
  • Full state pensions
  • ‘my state pension’
  • State pension married couple 2018
  • Becoming a pensioner
  • Pension benefits
  • Flexi access drawdown
  • Purchase an annuity

For help with any of the above please call us now on:

0800 888 6600

Or email help@brgl.co.uk