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pensions and retirement planning

Pre-retirement Pension Planning

Retirement Pension Options

Equity Release

The State Pension provides only a safety net, so you need to start making plans as soon as you can to protect you standard of living.

Following 'pension simplification' in April 2006 the rules surrounding pension contributions and limits have changed. Brief summary of the main points as follows:

You can get tax relief on your pension contributions up to 100 per cent of your earnings subject to an ‘annual allowance’. The annual allowance for the tax year starting 6 April 2010 is £255,000

If you have little or no earnings you can still contribute up to £3600pa (Gross) and qualify for tax relief at source.

From April 2006, you will have a ‘lifetime allowance’. This is a test against the total value of all your pension benefits. The lifetime allowance for the tax year starting 6 April 2010 is £1.8m.

We would recommend that you contribute as close to your maximum permissible amount as possible.

There are a number of contracts currently in existence.

- Stakeholder

- Personal Pension

- Retirement Annuity Contracts

- State Second Pension (S2P)

- Self Invested Personal Pension

- Directors and Executive Pension Plans

- Small Self Administered Schemes

- Free Standing Additional Voluntary Contributions

- Additional Voluntary Contributions

- Occupational Pension Schemes

- Section 32 schemes

- Buy-out Pension transfers

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Retirement Pension Options

You have a number of options once you have retired including

- Annuities

- Phased Retirement

- Unsecured Pension

For Alternative Retirement Options advice we act as introducers to Sesame Solutions Ltd.

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Equity Release

Helping You Make the Most of Your Retirement
Equity release gives you the chance to unlock the money tied up in your home – quickly and simply. Providing you with cash to spend in your retirement, exactly as you wish.

If you are over 55 and you own your own home you could be eligible for an equity release plan and benefit from a cash lump sum. The amount you can borrow will depend on your age and the value of your property.

We strongly advise that before you enter into an Equity Release Agreement you seek legal and financial advice.

Equity release products involve borrowing against or selling all or part of your home. There may be more suitable methods of raising the funds your need.

Equity release schemes may work out more expensive in the long term than downsizing to a smaller property. Releasing equity from your home may affect your entitlement to state benefits and grants.

One type of equity release is a lifetime mortgage, where every year interest is added to the amount you owe. This will reduce the remaining equity in your home. If you live a long time or house prices fall, there may be no equity left for your heirs to inherit.

Equity release refers to Home reversion plans and Lifetime mortgages. To understand the features and risks ask for a personalised illustration.

For equity release the firm providing the advice are normally paid by commission from the lender. As an alternative they can work on a fee basis of £500 and commission received from the lender will be rebated back to you.

For Equity release advice we act as introducers only.

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Independent Financial Advice You Can Trust

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D and P Asset Management is an appointed representative of Sesame Ltd which is authorised and regulated by the Financial Services Authority. Sesame is entered on the FSA register (www.fsa.gov.uk/register/) under reference 150427.

The FSA do not regulate some forms of Mortgage.