Retirement

In terms of planning for this eventuality, it is the one people talk most about and plan the least for. There are a number of reasons for this:

• No one has talked them through the different ways of saving for retirement
• No one has shown them projections of potential retirement benefits at selected retirement ages, growth rates (inclusive of state benefits).
• There has been no formal strategy put in place to achieve Retirement goals
• Worry! – That the dream will not become a reality.

With careful planning it is possible to see, understand and plan for that special day in the future – whether it is the Yacht in the Caribbean or a move to the country to get away from city life. A strategy needs to be planned, executed and above all, monitored to ensure that the financial goals are being met.

At MAC Financial, our core services will provide discussion, planning and recommendations surrounding Retirement strategies.

A Pension Scheme of one form or another is the most popular vehicle for this type of planning, but there are many different types of schemes. So, it is impossible to provide advice on a ‘one plan fits all’ basis. Therefore, we can provide advice on the following products on both an Individual or Corporate basis:

• Personal Pensions (PPP)
• Group Personal Pensions (GPP)
• Stakeholder Pension (SHP)
• Self Invested Personal Pensions (SIPP)
• Small Self Administered Schemes (SSAS)
• Funded Unapproved Retirement Benefit Schemes (FURBS)
• Salary Sacrifice

As a typical example, we find the beginning of formalising a retirement strategy always starts with understanding a client’s current position. We will always endeavour to understand the following;

• Current active schemes whether they be an employer or personal schemes.
• Schemes that are inactive, paid up or left with a previous employer
• Other investments are being made towards retirement provisions
• Assess current schemes with a view to possible amalgamation of benefits, if appropriate

N.B. We appreciate that Pension schemes may not be the only source of Retirement income, but generally will always advise that Pensions are used in some format for this goal.

More product information is available on request.