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The new flexible pension rules have changed the way investors consider both their pensions and the rest of their investment plans. The new rules provide many new options to consider, not just the provision of lifetime income, but also objectives that previously were unavailable, like estate planning.
With additional choice and wider options comes greater complexity and risk. From what we can read in the press, it would be easy to believe that drawdown was the answer to everyone’s problems. However, with pensions offering every shade of grey between the purchase of a lifetime annuity and full drawdown, the importance of finding an appropriate solution that complements your non-pension assets cannot be overstated. It is so easy to get it wrong.
As we know in life, the only thing that is certain is that things will change. Whilst the change in pension rules has created significant opportunity, it has also increased the risks that money can run out during your lifetime. It is therefore essential to review decisions regularly, around flexibility, in order to ensure that life in retirement is as certain as it can be.
Read more about how the new pension rules will impact your retirement.
Come and see AFH to find out more
To hear first-hand how the latest changes could affect you, as well as to have the opportunity to ask questions on the subject, join AFH on 24 October for their walk-in Pension Clinic (3pm – 5pm), or their Pension Seminar (6pm – 7pm) at Institution headquarters, One Birdcage Walk, London.
To book your place at either session, please e-mail ella.simpson@afhgroup.com.
If you would like to discuss this or any other financial topic with an AFH Wealth Management adviser, call Tel: 0330 134 8821 or email mail@afhgroup.com.
AFH Wealth Management is a trading style of AFH Independent Financial Services Limited, which is authorised and regulated by the Financial Conduct Authority. www.fca.org.uk/register. Financial Services Register no. 216704.
This article is for generic information only and should not be construed as advice. Please contact AFH before proceeding with any course of action.