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RETIREMENT

Are you concerned about your retirement?

Many people now realise that saving for retirement is no longer an option – it's a necessity. We are all living longer, retiring earlier and grown accustomed to a certain standard of living. With Company and government pension schemes proving unsustainable, it is much more important now, than ever before, that you take the responsibility to ensure that your retirement is comfortable.

Do you know what your retirement income will be?

iFS has many years of experience in retirement planning and have the ability to quantify your existing savings and provisions and project the likely retirement income you can expect. Most people will be shocked by the result as it doesn't equate to the level of retirement income they were expecting.

What can I do if my retirement provision is not sufficient?

We developed a number of models over the years using state of the art software designed to generate a strategy that will show the required level of income at your preferred retirement date. The options are numerous and we therefore recommend a full pension review to establish the right strategy for you.

There are several analogies for people to use which would give a 'rule of thumb' guide to retirement provision. One of the most widely used is to use half your age as a percentage of what you should be investing into your retirement plan.

i.e. A person who is 40 years old should be investing 20% of their income
A person who is 50 years old should be investing 25%

The question to ask yourself is, have you been doing that?

To calculate what level of future savings you need to make in order to reach your retirement goals, go to the Retirement Calculator.

If you would like a review of your existing pension provision or would like other advice in this area, please contact your existing adviser. If you do not currently have an adviser, please do not hesitate to contact us. You can email us with your details and one of our advisers will contact you shortly.