Free Aberdeen Pension Review
Our Aberdeen pension advisors cover the north of Scotland and offer telephone based and face to face pension advice. We start by having a conversation about what you hope to achieve from your pension and then gather information about your pensions. If you’re unsure about your pensions we’ll discuss historic employment and other relevant information to help review your pensions. A pensions advisor will then review all of the information and provide a summary for you.
All of our advisors are fully regulated and authorised by the Financial Conduct Authority. Our pension specialists all have years of experience and knowledge. This means you’re receiving the highest quality standard of advice.
Frozen Pensions in Aberdeen
If you’ve started multiple different pensions over the years at different employers then you could have various pension pots which collectively have a sizable amount of money for your retirement.
Our job is to understand, assess and provide recommendations on how you can best enhance your pension and maximise your retirement income. Managed pensions typically perform better than pensions left to their own devices and the difference can mean, on average, £40,000 extra when you come to retirement and take your pension.
If you think you have pensions in Aberdeen where you paid into your pension and have since stopped, but would like to better manage your retirement income then speak to us today. You are under no obligation to proceed with our advice, but it’ll help empower you to make an informed decision.
Final Salary / Occupational Pensions Aberdeen
There are many people across Aberdeen considering their final salary pension (also described as a defined benefit or occupational pension). Following pension freedom changes which occurred in 2015, it’s now possible to take 25% of your pension as a tax free lump sum from the age of 55.
Final salary schemes have come under criticism for being underfunded by employers and people are often being offered a healthy package to leave the scheme. There are positives and negatives to being part of the final salary scheme and you should weigh up your options carefully.
For instance, a positive of the scheme is you can receive a defined benefit each year which can last until you die. The negative is that when you die your family can’t receive any extra money from your pension, unlike a private pension. In a final salary scheme you also can’t have your tax free allowance of 25%.
While a final salary scheme may seem less flexible, it should provide an income until you die, whereas private pension pots can run dry.
Before you make any decisions about your financial future, speak to a qualified pensions advisor to receive independent advice. Scottish Pension Advice covers the whole of Scotland and can provide Aberdeen based pension advice too.