PENSIONS ALERT……The new changes could cost you thousands of pounds …

ACT NOW to avoid these 5 Ways You Could Be Losing Out

You will have seen a lot written about Pensions recently. (So called) Pensions Freedom for starters.  How thousands haven’t saved enough for retirement.  How annuities are poor value. Why not to rely only on State Pensions? Etc, etc.  Suddenly the world’s full of critics who’ve been in the business 5 minutes claiming to be experts.  Alan started advising on pensions in 1973. Seen it - done it, got the Tax Free Cash T Shirt.

For those who have managed to save for retirement using Private Pensions despite the hundreds of changes imposed over the last 28 years by successive UK Governments, the complexities they bring stack the odds against you getting the best deals for your retirement.  Let’s face it, when have you found changes being made to improve your tax free cash on retirement, or your after Tax income and growth returns?

Here are FIVE WAYS you could now be losing out.  FIVE GOOD REASONS to check with us BEFORE you LOSE real money or real retirement income for life.

1)  Don't lose up to £62,500 tax free.

If you have a decent sized Pension fund, or even lots of them, doing nothing at all with them whatever age you are right now could lose you £62,500 TAX FREE.  And that’s after possibly losing up to £137,500 TAX FREE already.  When the UK Government introduced limits to the benign treatment to our Pension schemes in 2006, they promised the amount protected against high taxes would be revalued with inflation.

They quickly reneged on their promise, and have continued to break their promises.  But you can still secure your right to an extra £62,500 TAX FREE if you register your rights.  But have your position checked out without delay.  If you are NOT aware of your rights under current legislation regarding Fixed Protection you could lose out.  Check it now.  You know how slowly some pension companies take to respond for information.

Check it out … phone for a chat/appointment on 01506-842365 or email

2)  Could your tax free cash sum be actually bigger than you believe?

Tempted to swap your existing pension plans for one where you can get a TAX FREE Cash lump sum that’s 25% of the total?  Have you checked the small print before you potentially LOSE OUT on a bigger TAX FREE Amount?  Remember the hundreds of changes dumped on us since 1987 I mentioned above?  If you had been in an employer sponsored pension scheme (typically offered by larger employers) and subsequently moved to an individual policy instead, you may find you’re entitled in that plan to TAX FREE CASH much higher than 25%.  This also applies to “old” Executive Pension Plans.  If in doubt check it out.

We’ve seen the whole pension plan being paid out TAX FREE. Isn’t it worth checking before you swap?  Let’s face it more tax free cash is better than lesser levels of taxable income.  Call us on 01506..842365 or email us at

3)  Does your personal pension plan have valuable and Guaranteed Rates of Pension Income that frankly you couldn’t obtain nowadays if you simply jump into Pensions Freedom?

You could end up losing up to half of the annual income promised in the small print, per annum for life.  If it’s an old policy from before 1990 you may be unaware of these valuable guaranteed income benefits.  Check with us.  We’ll check the small print for you.

Call on 01506-842365 or email us at

4)  Are you a Higher Rate Tax Payer?

If so this could be your last opportunity to obtain maximum tax relief and boost your pension fund. It’s almost certain that tax relief will be less for higher rate taxpayers after 5th April, and the more income you earn subject to high rates the less you may be able to put into pensions in next tax year.  In fact, with the next Budget looming large on the 16th of March, maybe it would be wise to take advice now.

The benefits of some Pension Freedoms mean that a modern flexible Pension Plan is unbeatable as a tax planning tool. Full tax relief on the way in, no Capital Gains Tax ever, no Inheritance Tax, low income tax applied inside the plan, plus other flexible benefits.  These plans have never been cheaper to set up or run, with little restrictions on investments held inside.

Existing policies not delivering decent returns?  Not happy with your present advisors?  Get in touch with us.  Not many award winning independent firms out there with over 40 years record of excellence.

Call us on 01506-842365 or email us on

5)  Already in Retirement Income Drawdown from your pension fund?  Have you sorted out your legacy yet?

When was the last time you checked who your beneficiaries are?  Are you aware of the new rules allowing you to nominate beneficiaries other than your spouse for lump sums AND potentially tax free income?  To benefit, they MUST be nominated formally.

Meaning what?  Meaning after your death a family can have much greater choice on drawing benefits and minimising tax.  Don’t review it, lose it!!

Pension plans are too important and too complicated to leave to amateurs or DIY fans.  If in doubt Call us on 01506-842365 or email us on

Alan Steel

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