While every financial adviser should have a good knowledge of pensions, it is one area where there are significantly different degrees of knowledge. Advisers who have taken higher level qualifications and are given special advice permissions from the regulator (the Financial Conduct Authority) are called Pension Transfer Specialists.
Platinum Financial Consulting Ltd are recognised Pension Transfer Specialists. This means that besides being able to advise on standard pension products such as drawdown, personal pensions, annuities etc, we are also able to advise in areas that many other firms are not. These include :
- Potential transfers from Final Salary Pensions
- Safeguarded Benefits
- Guaranteed Minimum Pensions(GMP)
- Guaranteed Annuity Rates (GAR)
- And others
We also have specialist knowledge in helping with lifetime allowance, annual allowance, pensions taxation, death benefits, estate planning, fixed and individual protection.
We help people maximise the tax efficiency of their pension contributions and withdrawals. It is also very common for a customer to come to us believing they need a specific type of pension product to achieve their goals. More often than not we are able to provide them with a pension product that allows them to do everything they wanted to do, but we have given them a product that is cheaper and offers them significantly enhanced protection. It’s dangerious to assume !!
We have a number of pension websites and are able to advise in most areas. In some areas, such as transfers from Final Salary pensions, advice is compulsory, but there are areas where we are happy to work directly to your instruction (at your own risk). This can provide a significantly cheaper outcome.
Use our panel that appears on this page to tell us what you want or are interested in. We will send you a fully costed quote and information pack by reply. You will receive no sales calls and our service is completely without obligation.
Over the years we have helped hundreds of customers, when they score us on how we have looked after them and put them in control of the process and their pension typically more than 95% have scored us 10 out of 10. This reflects that we are delivering on our objective of offering a good old-fashioned personal service via the internet.
If you need help with any Pension problem please visit our website or call us on 020 33 55 4837
Pension Freedoms and Drawdown
As the owner of a personal pension, you now have many more options on how you use your pension fund to meet your needs and objectives.
Traditionally whatever was left in your pension fund after the tax free cash lump sum was locked up in some way and your money was slowly returned to you in the form of an income. Customers did, and still do have, a number of products open to them to provide a guaranteed income for life, but from April 2015 they also had the option of taking as much or as little from their pension fund as they wish.
After taking their 25% Tax Free Lump Sum those who want full flexibility will place the remaining 75% into a income drawdown fund. This fund will allow them to take money from it, but it will also remain invested and so has the potential to grow. Remember any money you take from the remaining 75% sitting in the drawdown fund will be taxed as earned income. However, a big benefit of drawdown is that you can access your Tax-Free Cash without needing to immediately take an income. There are many benefits to this particularly for those still working. It is likely to be more tax efficient and you may be able to use the lump sum to significantly improve your financial circumstances several years before you retire.
If you want to understand more about drawdown, including its risks and benefits, please contact us.
By using our quote panel below we can send you free no obligation quotes and information. You will be redirected to our pension website and depending on the options you select we can collect information about your specific requirements – do you want tax free cash ? etc. If you have any specific requirements there is also space for you to make us clear on your requirements.
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