Pensions

As we live longer lives and enjoy the freedom to decide our own retirement choices, it is crucial to have clarity over what you want to do and how much money you’ll need to achieve that.

Pensions can be complex, with so many considerations, including frequent rule changes, regulation and your personal family circumstances. Whatever your situation, our experts can help set up tailored arrangements that suit your needs.

Our clients frequently ask us:

  • Will I be able to retire when I want to?
  • Will I have enough money to retire comfortably?
  • What should I do to guarantee the retirement I want?
  • Should I consolidate my pension pots?
  • How do I track down an old pension?
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How can we help?

The rules around pensions are constantly changing. Getting regular advice from experts will enable you to build up your pension in the most efficient way, allowing you to invest it and achieve your desired outcome. Our financial planners can help you decide on the best plan for your personal circumstances.

Solutions such as pensions, ISA’s, property, investments and savings all play a role in your retirement plan. However, we believe that the most successful retirement plans are a blend of all these.

The value of investments and any income from them can fall as well as rise and you may not get back the original amount invested.

Myths about retirement

When it comes to retirement, there are some ideas that can turn out to be quite different when you examine them closely. We explore five of them.


The current basic state pension is £137.60 per week, or £179.60 for the new state pension if you were born on or after 6 April 1951 (for a man) and on or after 6 April 1953 (for a woman). That works out annually as £7,155 or £9,339 respectively, depending on meeting National Insurance contribution requirements and other eligibility criteria.

This could be enough for those who own their home outright, to cover the very basics for everyday living but is limiting for those who want to enjoy a more comfortable retirement without money worries. As life expectancy rises, so does the amount of time we’ll need to fund
our lives in retirement, including long-term care when we’re older.

With an occupational (workplace) pension, the overall minimum total contribution is 8%, with employees paying in 5% of salary and employer contributing 3%. But this might not be enough to give you the kind of income you’re expecting once you’ve retired.

The good news is you can back your workplace pension up by increasing your contributions if you’re able. Better still, some employers also offer to pay more into your pension to help build your retirement benefits faster, by matching any additional contributions you make up to a set level. If you start the ball rolling earlier, the more tax relief you’ll receive and the more time your overall pot will have to grow.

The reality is, even if you wanted to continue working either full – or part-time after state retirement age, you might not be able to do so. It might be too physically demanding or might not fit in with retirement goals like spending more time with grandchildren, travelling or other pursuits you’ve been looking forward to.

Getting help from a financial adviser can ensure you have your desired level of income in retirement. You’ll then be able to focus on keeping busy through hobbies, part-time work or other areas like volunteering in your community.

As we’re living – and working – longer than before, while it’s true that the sooner you start the better, life doesn’t always go as planned so it’s never too late to start saving for retirement. Compound investment growth can make a big difference to the value of your pension over time.

Even with the best intentions when it comes to saving and investing, doing it alone is difficult. That’s why working with a professional adviser can give you confidence about the direction of your investments. An adviser will be able to point out the long-term benefits of your investments and how they can pay off for you.

The value of investments and any income from them can fall as well as rise and you may not get back the original amount invested

Our pension products

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Retirement account
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Self invested personal pension plans
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Trustee investment plans
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Group personal pensions and auto enrolment

Our approach

We follow a six-step consultative approach to ensure you receive personalised financial advice.

Steps one and two form the initial no obligation consultation where we agree how we work together and is at our expense.

Our advisers will guide you through each step at a pace that suits you and together we will formulate your financial plan.

  • 1. Setting goals
  • 2. Gathering information
  • 3. Performing analysis
  • 4. Designing strategy
  • 5. Implementing
  • 6. Regularly reviewing

Our advice framework

View our six-step approach in more detail

Schedule a meeting with an adviser

Email info@thepennygroup.co.uk or call 0207 061 2345 if you would like to schedule in your initial consultation with one of our experienced advisers.