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Pensions – why it’s never too late – or too early – to start planning

Lee Fellows

By Lee Fellows, director Q Financial Planning

How’s your retirement planning going?

Are you worried that you won’t have enough income to live on when you finally step away from work? If a new poll is anything to go by, you are not alone.

The poll – by Fidelity International – shows that almost two-fifths (38 per cent) of adults are worried about their pension plans and how they will be able to afford to live in their retirement.

It’s a growing problem too. The changing working landscape – with lots of us now changing jobs more often and acquiring new pension pots each time we do – means that keeping track of what you have put away for your retirement is becoming more and more complicated.

And frequent changes to pensions legislation – including the 2015 pension freedoms act, the provision of the State pension, the move from defined benefits to defined contributions, and the national retirement age – only help to further muddy the waters.

That’s why getting help from a trusted, professional financial advisor with a track record of success – like the team here at Q Financial Services – can be so important. And the good news is that it’s never too late to start.

There are a number of key stages where a financial advisor can really help, both in finding the best investments for you and deciding how and when to take your investments.

So, if you are thinking of purchasing an annuity, consolidating a range of pensions in one place, working out when might be a good time to start accessing some of your funds or how to make the most of the tax benefits that pension investment can bring, it’s definitely worth getting some professional advice.

We can guide you through the different options available at the various stages and ensure that whatever your position, your pension works in the best and most efficient way possible.

For those just starting in the world of work, the thought of pension planning can seem completely irrelevant. But the chance to start preparing for your future now means you can enjoy the maximum control over your finances throughout your working life – maximising your chance of enjoying the best possible retirement.

For those at the other end of the scale who are nearing retirement and fear they have left their planning too late, professional advice can help identify opportunities and find solutions and set your minds at ease.

Here at Q we have a fantastic team of experts covering every aspect of financial planning – so you know that the advice you get from us is up to date, tailored specifically to you and planned to reflect your personal circumstances.

So make sure you are not one of those 38 per cent of adults worrying about your retirement and get in touch today. You won’t regret it.

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