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A Guide to Self-Invested Personal Pensions (SIPPs)

What do your retirement plans look like? Saving for your retirement is one of the longest and biggest financial commitments you will make. Imagine you are retiring today. Have you thought about how you are going to financially support yourself (and potentially your family too) with your current pension savings? The new pension freedoms provide an incentive to look again at your retirement savings.

A Self-Invested Personal Pension (SIPP) could be right for you if you are looking for a wider choice of investment options and have sufficient knowledge and experience of investing to make your own investment decisions.

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Guide to Cashflow Modelling – Is it time to bring your money to life?

Will your current plans get you to where you want to be financially?

Whatever wealth means to you – now and in the future – we can help you achieve your goals for it in every area and stage of your life.

Cashflow modelling as part of the financial planning process is also vital if financial goals are to be achieved, such as repaying your mortgage, buying a holiday home, paying for school and university fees and being able to retire when you want to.

It is also important that you have sufficient funds for emergencies to provide for unexpected expenses, such as a job loss or long-term illness.

Clarity over your goals. Key to this is analysis based on your goals and desired future lifestyle.

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A GUIDE TO PENSIONS ON DIVORCE

If you’re going through a divorce, dividing up any pensions you have will usually be one of the largest financial decisions you need to make. Agreeing financial arrangements in your divorce can seem daunting; there are so many misconceptions and myths as to what each party is entitled to that it gets confusing.

The rules surrounding dissolution of a registered civil partnership are the same as those for divorce. In this guide, we use the term ‘divorce’ to mean the end of a registered civil partnership as well as the end of a marriage A pension is often the largest or second largest capital asset in a marriage or registered civil partnership. However, pensions can be complex and confusing at the best of times.

Frequently, one person has a substantial pension and the other might have none or a very limited pension provision because, for example, they have given up their job to look after the children.

A decision will need to be made as to whether that pension or pensions should be shared or if you should receive more of another asset, such as the home instead.

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Have you got control of your retirement plans?

An increasing number of people in later life are saving little or nothing for their golden years, instead expecting to fall back on the State Pension. Some people are ‘under-estimating their life expectancy’ which means that the money they do save for retirement will have to
stretch further.

As millions of people move within a decade of their State Pension many have still not thought about how long their retirement might last. It’s worrying that so many over-50s are potentially sleepwalking into their old age and are expecting to be better off than they will be.

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Living with Long Term Care needs

With the UK’s population ageing, more people will be living with long-term care needs. This means that as we approach old age, it becomes more likely that we may need day-to-day help with certain activities like washing and dressing, or assistance with household tasks, such as cleaning and cooking. This type of support, along with some types of medical assistance, is called long-term care.

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