The state pension only provides a basic income in retirement and if you really want to enjoy your retirement – continuing your existing hobbies, taking up new ones, travelling etc. – it is likely you will need to make additional provision. Far fewer people have access to a generous final salary occupational pension schemes than was the case a generation ago and the age at which you can take your state pension is also set to rise several times in coming decades.

Life expectancy is rising and your retirement may last for much longer than you had ever anticipated. There are real benefits to starting your retirement planning early in life, but whatever stage of your working life you are at, it is never too late to start. Tax relief is available on your pension contributions at your highest rate of income tax, an advantage not available with any other form of savings. In addition, pension savings can be excluded from your estate offering a form of protection from Inheritance Tax.

We can guide you through the wide range of retirement savings options available. It is also important to regularly review your pension arrangements to ensure they are on track to provide sufficient retirement income. An Independent Financial adviser can also be invaluable in this respect. For example, you and your adviser can review the levels of contribution you are making, the amounts you are paying in charges and the risk profile of your existing pension investments.


Lyles’ IFA can provide pension savings advice services to:

  • Employed persons seeking to maximise retirement income

  • Self-employed persons seeking to maximise retirement income

  • Business owners seeking to maximise their retirement income whilst saving their company corporation tax

  • Employers wishing to provide a pension arrangement for their employees

Are you nearing retirement age?

If you are nearing retirement age, you may benefit from the advice of an Independent Financial Adviser as to how to get the most out of the capital you have built up in your pension funds. Under the new pension Freedoms announced by the government there are many options now available in the way you can take the benefits from your pension and these need proper and detailed consideration before you agree to take your pension benefits. You may find that your existing pension provider advise you to seek the advice of an Independent Financial Adviser before taking your pension Lump Sum and or Income benefits.

At Lyles’ IFA we have significant experience in pensions and retirement planning and are well placed to guide you through the options available.