How we will help you

• Cash flow planning

  With the help of sophisticated cash flow planning technology, we can help you understand how much money you are likely to need for the rest of your life and how much you’ll need to live the retirement lifestyle you desire. We look at all your current savings, investments and pension plans. Once we know the value of your current assets, we can project their future potential value using specialist software.

• Explore whether you have enough already

  We’ll help you understand whether your current arrangements are working for you and if they are sufficient to meet your retirement lifestyle goals. Where there is still work to be done, we’ll suggest changes to your plans or arrangements and give you clarity on your options.

• Increase the money going into your pot

  By having a lifetime cash flow plan done, we can tell you if you are going to be short of income at retirement age and advise you on the most suitable way to make up any shortfall. When it comes to funding your future, we may suggest creating a portfolio of investments. We’ll help you to choose investment options that sit comfortably with your appetite for risk, while giving you the best opportunity to achieve your goals and income requirements.

• Protect and preserve your wealth

  You may not need your pension to generate an income. You may plan to carry on working or have income from other investments such as property. In which case, your priority may be maintaining as much as your wealth as possible so that it can be passed on to your loved ones when you die. We will help you understand your options when it comes to preserving your wealth and transferring it in the most tax-efficient way to those you want to see benefit from it.

• Frequently asked questions about Retirement Planning

  How much do I need to retire comfortably in the UK?

  There is no single amount that guarantees a comfortable retirement.

  How much you need depends on:

  • your desired lifestyle
  • housing costs
  • travel and leisure plans
  • pensions
  • State Pension
  • investments and savings
  • tax
  • your retirement age
  • how long retirement may last.

  Retirement Living Standards can provide useful benchmarks, but personalised cashflow modelling is usually more useful because it reflects your own lifestyle and resources.

  How do I know if I have enough money to retire?

  A Financial Planner can assess your pensions, State Pension, investments, savings, expenditure and expected retirement date.

  Cashflow modelling can then project whether your assets are likely to support the lifestyle you want over the long term.

  Different scenarios can also be tested, including higher inflation, lower investment returns and living longer than expected.

  Can I retire early?

   

  Potentially.

  The question is whether your pensions, investments, savings and other income can support the additional years before State Pension and other retirement income begin.

  Cashflow planning can compare different retirement ages and show how retiring earlier may affect your longer-term financial position.

  When can I access my pension in the UK?

  Most people can currently access private pension benefits from age 55, although the normal minimum pension age is scheduled to rise to 57 from 6 April 2028.

  Some people may have a protected pension age or another exemption.

  Different rules apply to the State Pension, which has its own eligibility age based on your date of birth.

  Should I consolidate my pensions?

  Pension consolidation can make retirement planning simpler, but it is not always appropriate.

  Before transferring pensions, it is important to check whether any existing plans contain valuable features such as:

  • guaranteed annuity rates
  • protected tax-free cash
  • safeguarded benefits
  • favourable charges
  • protected pension ages.

  The decision should be based on your overall retirement strategy rather than convenience alone.

  What is the difference between a Defined Benefit and Defined Contribution pension?

  A Defined Benefit pension usually promises a retirement income based on factors such as salary and length of service.

  A Defined Contribution pension builds a pot of money from contributions and investment returns, which is then used to provide retirement benefits.

  The risks, guarantees and options can be very different.

  Defined Benefit transfers are complex and require specialist regulated advice where applicable.

  What is cashflow planning and how can it help me retire?

  Cashflow planning models your expected future income, spending, pensions, investments and savings.

  It can help answer questions such as:

  • when could I retire?
  • how much could I spend?
  • could I afford to retire earlier?
  • what happens if markets fall?
  • could my money last into my 90s?

  The model is based on assumptions rather than guarantees, but it can help make retirement decisions more informed.

  How should I take income from my pension in retirement?

  There are several ways to take retirement income, depending on your pension arrangements.

  Options may include:

  • pension drawdown
  • annuities
  • lump-sum withdrawals
  • tax-free cash
  • using other savings and investments alongside pensions.

  The appropriate strategy depends on your tax position, spending needs, investment risk and wider financial circumstances.

  Should I take my tax-free pension lump sum?

  Not automatically.

  Taking tax-free cash can be useful for paying off debt, funding spending or creating cash reserves.

  But taking it simply because it is available may not always be the most effective option.

  Leaving money invested, using other assets first or taking tax-free cash gradually may be more appropriate depending on your circumstances.

  How does Alexandra’s help me plan for retirement?

  Alexandra’s Financial Management can help bring together your pensions, investments, State Pension, savings, expenditure and retirement goals.

  Cashflow modelling can then be used to test different retirement dates, spending levels and future scenarios.

  The aim is to help you understand what is affordable and create a retirement strategy built around the lifestyle you want.

   

   

Please note, the value of your investments and any income derived from them can go down as well as up, so you may get back less than you invested.
A pension is a long term investment, the fund value may fluctuate and can go down. Your eventual income may depend upon the size of the fund at retirement, future interest rates and tax legislation.