Pensions and Investments

Pensions

As the state pension age is increasing, as well as life expectancy, it is becoming even more important to plan for your retirement in advance. Pension planning is complex and time consuming, so let Peterkins independent financial advisors guide you through life’s financial maze with appropriate solutions and strategies.

A pension scheme is a long-term savings plan designed to help you keep money aside for later life. Some schemes may be run by your employer, whereas others you can set up yourself.

Peterkins will ensure you are fully aware of all the options available to you, and our service will deliver based on your needs and plans. Several options exist; you may wish to withdraw a tax-free lump sum, or to benefit from the added security of receiving a regular income. Ultimately, to decipher the best solution for you, get in touch with Peterkins today.

Investments

An investment is something you purchase or put money into with the goal of generating income or wealth in the future. There are various reasons you may wish to save or invest money, potentially for your children or for your own personal retirement reasons.

Cash savings which you put into a bank or building society account are a type of investment; your capital is risk free, and funds are accessible at short notice, however the rate of interest is likely to be relatively modest. Other types of investment include:

  • Shares - Buy stake in a company
  • Property - Invest in a building
  • Fixed income investment (bonds) - Loan your money to a corporation or government for a defined period at a fixed or variable interest rate

To spread the risk, it is recommended to invest your money into a variety of products and asset classes; this is called diversifying.

At Peterkins, we can combine your financial planning and legal management. Whilst weighing up the different investment options, we can draft a will and make power of attorney arrangements.

Inheritance Tax Planning

Inheritance Tax is something which is paid on property, money and possessions (a person’s estate) by gift during their lifetime, or as inheritance when the person passes away. The current threshold is £325,000; anything in your estate which is over this amount will be liable for Inheritance Tax.

Establishing trusts is regarded as a sensible way to safeguard your estate. This can be done in your Will to deal with your estate after death, or it can operate during the creator’s lifetime. The two main types of trust are discretionary trusts and bare trusts.

Our independent financial advisers will help to ensure your finances are structured correctly and advise if you can benefit from a trust arrangement. Speak to one of our experts today.