Building the foundation for retirement
A pension is one of the most tax-efficient ways to save for retirement. At The Penny Group, we help you make sense of your pension options, maximise contributions, and plan for a financially secure future.
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We will review your existing pensions, explain your options, and ensure your contributions are structured tax-efficiently. We can also consolidate older pensions to give you greater clarity and control.
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Pensions are suitable for anyone earning an income who wants to build long-term financial security. They are particularly important if you want to benefit from tax relief, employer contributions, and long-term investment growth to support your retirement lifestyle.
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.
Pension consolidation advice is available. If you hold a Defined Benefit Pension Scheme or Defined Contribution pension with a guaranteed minimum pension or income, any advice you receive will be through a dedicated referral advice service and a specialist within our network.
HM Revenue and Customs practice and the law relating to taxation are complex and subject to individual circumstances and changes which cannot be foreseen.
Pension planning becomes especially important during:
Each stage presents opportunities to optimise contributions and investment choices.
Pensions form a core part of retirement planning and investment strategy. They work alongside savings plans, investment management, and estate planning to ensure your retirement income is sustainable, tax-efficient, and aligned to your wider financial goals.
The main types are workplace pensions, personal pensions, and self-invested personal pensions (SIPPs). Each offers different levels of flexibility and control.
It depends on your goals, current income, and when you plan to retire. A common guideline is to contribute a percentage of your income equal to half your age, but tailored advice ensures you are on track.
Yes, often pensions can be consolidated, but it depends on the scheme. We will assess whether this is beneficial and guide you through the process.
Currently, you can usually access pensions from age 55 (rising to 57 in 2028). However, there may be tax implications and long-term consequences, so getting the right for you advice is key.
Most pensions allow you to nominate beneficiaries so your savings can be passed on.
Yes. Personal pensions and SIPPs stay with you, so contributions can continue regardless of your employer.
Our expert team is on hand to help with your financial planning
The difference we make, told by the people we help every day
