Financial Planning in Retirement – Self Invested Pension Plan (SIPP)

Preserving your wealth and making the most of your hard earned savings is just as important post retirement as pre retirement. Many people take advantage of the flexibility and benefits that a Self Invested Pension Plan (SIPP) offers to generate income in retirement. These include

• Taking your tax free lump sum (up to a maximum of 25%) without taking any income from the pension.

• Deciding your income level under the rules of capped drawdown

• Upon death of the policy holder, a SIPP will continue to pay 100% of the maximum allowable income to the surviving spouse

• Have a fund that achieves investment market growth while taking income in retirement

• A lump sum death benefit not available with a traditional annuity

• The opportunity to take out larger lump sums from your pension than the normal government defined limits if you have at least £12,000pa of guaranteed pension income from other sources

To review your journey to retirement no matter how far away, including how a SIPP can be an effective part of your retirement planning, call us at FD Financial Planning for an appointment on 01772 883881.
FD Financial Planning is a trading style of Cheetham Jackson JV LLP who is an appointed representative of Cheetham Jackson Ltd who are authorised and regulated by the Financial Conduct Authority (FCA).

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