Pensions
When it comes to pensions, it’s hard not to get a little muddled and confused by everything that’s out there. There’s a lot of technical language, complex rules and history involved that makes the process difficult to navigate, but the importance of having a pension cannot be understated.
It is important to know exactly where you stand when it comes to your retirement. And it is never too late or too early to look into it. We’re here to answer any questions that you may have about your pension and your retirement options and take out the jargon and confusion.
Do you have old pensions that you are struggling to track down?
We can help you find your old pensions that you may have built up over the years and advise you on what you can do to make the most of them. We take the burden away from you to make your pension planning easy.
Do you have pensions that you can’t make sense of?
Don’t worry, our team of fully qualified pension specialists have the right expertise and decades of experience in dealing with all types of pensions. We can help you understand your pension benefits and how they fit into your overall financial picture.
Are you wondering when you can retire?
Our detailed research and advice can help you plan for the future with confidence by making informed decisions. We can look at the impact of retiring at different ages and understand what is achievable.
Find out your likely retirement income
Thanks to Partner, MoneyHelper.com for providing this pension calculator.
Do I need a pension?
Yes, you need a pension.
A pension is a long-term savings plan that can help you achieve a comfortable retirement. In the UK, the State Pension is the basic government pension that everyone is entitled to when they reach State Pension age. However, the State Pension on its own is unlikely to be enough to live comfortably in retirement, so it's important to have other savings and income sources, such as a pension.
State vs Personal Pension
State:
Your state pension is available to you once you reach a certain age (you can find out when you're eligible to receive yours through the gov website). There are a few stipulations to whether or not you're entitled to receive a state pension based on your national insurance contributions. You are able to receive your state pension alongside your personal one.
Personal:
Your personal pension, or workplace pension, is based on what you choose to pay throughout your working years. There are many benefits to being in a pension scheme, which we can discuss with you based on your personal circumstances. However, the main benefits are:
- Tax relief (the government will contribute whenever you do)
- Added retirement funds
- Employer contribution
I don't normally leave reviews, but I am so happy with how smoothly the process was buying my first home, thanks to Scott and the team! I give the 5 star rating as the communication, the honesty and the will to go the extra mile for the customer! The whole process and information provided just made things so easy. I highly recommend this company! Cheers Scott and the Lifetime team!
ashley briscoe
20/02/2023
Paul Lee, my Lifetime financial advisor, has been an absolute star is guiding me through the process of setting up a drawdown pension prior to my retirement and arranging the monthly pension payments following my actual retirement this month. I have every confidence that Paul is working in my best interests but is always mindful of his responsibilities regarding ethical behaviour and the needs of his own employer. Well done Paul - I look forward to a long and fruitful working relationship with you.
Steve Pollard
26/01/2023
Lifetime have offered great customer service and impartial advice to help my family and I plan for the next 5-10 years to meet our financial and life goals. Paul has been very personable and explained products to both my wife and I who have varying degrees of knowledge on the financial products and he has been able to explain clearly to us so we have a full appreciation of the full product set. I feel lifetime have our personal interests at heart and often ask us to keep more cash aside to enjoy life whilst still reaching our goals. Great customer service, both personal and professional and a joy to deal with.
Mark Hield
10/01/2023
I felt that I should look into how to seek help in securing my financial position for my remaining years. I am 72. Lifetime have shown me the way to do this. They have given me the confidence to release part of my funds for them to reinvest with a view to keeping up with the rising cost of living. Kristain at Lifetime patiently guided me through the investment procedure and made sure I understood every step. I am looking forward to feeling more relaxed about my future now I have seen the projected figures drawn up by Lifetime’s experts and feel I am in safe hands.
Ann Dearman
06/12/2022
Kris Booth has been very helpful and explained all the aspects of our pension plan in a language that is easy to understand. He has also shown us how it will develop in the future and advised us on certain problems we may have with not having done a power of attorney when we did our wills. Nothing seems too much trouble for him, I’m glad I chose lifeline to deal with my pension after hearing some of the issues other people have.
Thank you,
Regards,
Mike Harper
Michael Harper
06/12/2022
Kris and the team at Lifetime have been fantastic during the process of a full financial plan. I was at a stage personally where I needed to look at multiple areas- investing, saving, life cover and pensions. It was really useful to have a full financial review and develop a plan with Kris. Due to my location all meetings have been done remotely - this has not hampered the excellent level of service provided, still feeling personal and always giving all the time required. I would highly recommend
Tim Bardgett
07/11/2022
We recently used Lifetime as our fixed rate mortgage deal had come to an end and we were looking to switch to a new lender. Our mortgage Advisor, Scott made the whole process an absolute breeze. Communication was fantastic and he was very flexible when arranging meetings. Everything ran smoothly and I cannot fault a thing. Thank you again!
Chelsea Lowther
28/09/2022
Lifetime have been a fantastic support and help in our house buying process. As first time buyers we were nervous and unsure of the process but Scott put us at ease instantly. He made us feel comfortable to ask silly questions and always had time for us. Without Scott's expertise and guidance we would not be in our first house now, and we are extremely grateful for the role he played. Lifetime has been fantastic and the service is unbeatable. Thank you to everyone who was involved in our journey - we look forward to working with you again!
Beth Hickling
12/09/2022
