Pensions & Retirement

The right time to retire depends on your individual circumstances, including your pensions, investments, expected lifestyle and future plans.

We help you build a clear picture of your financial position, using cashflow planning to assess when you could retire and what level of income you may be able to sustain. This gives you the confidence to make informed decisions about your retirement timeline.

There is no one size fits all answer, as it depends on the lifestyle you want in retirement and how long your income needs to last.

We work with you to understand your goals and model different scenarios, helping you identify how much you may need to save and whether you are on track. This allows you to make adjustments early and plan with greater certainty.

Many people build up multiple pension pots over time, which can make retirement planning more complex and harder to manage.

In some cases, consolidating pensions can simplify your finances, reduce costs and improve oversight. However, it is not always the right decision, so we carefully review your existing arrangements to ensure any recommendation is suitable for your circumstances.

There are several ways to take income from your pension, including drawdown, lump sums or a combination of options. The right approach depends on your objectives, tax position and attitude to risk.

We help structure your withdrawals in a tax efficient way, ensuring your income is sustainable while keeping your long term plans on track.

Tax treatment depends on individual circumstances and may change in the future.

From 6 April 2027, most unused pension funds and pension death benefits are due to be included in your estate for inheritance tax purposes — a major change, as pensions have traditionally sat outside your estate. Anything passing to your spouse or civil partner remains exempt, but funds left to children or others may now face a 40% IHT charge if your estate exceeds the available allowances.

This change matters most if you’ve deliberately preserved your pension as a way of passing on wealth. On larger estates the combined effect of inheritance tax and income tax on inherited pensions (where death occurs after age 75) can be significant. The right response depends entirely on your circumstances — for some people it means drawing pension income sooner, for others gifting during their lifetime, reviewing death benefit nominations, or rebalancing which assets they spend first. We’re helping clients across North Wales and the North West review their retirement and estate plans ahead of the change. If your pension forms a large part of what you plan to leave behind, it’s worth reviewing well before April 2027.