Many of us put off our retirement planning due to more pressing commitments. The reality is that you need to start planning and building your retirement income as early as possible to ensure you can afford to retire and still continue the lifestyle you have become accustomed to. This means paying into your own private pension alongside your entitlement to any State pension.
You may find that over your working life you have built up a number of pension pots with various different companies. It's important that you regularly review these to ensure they remain invested appropriately and fit in with your overall financial plan. It is vital you receive comprehensive advice from a fully qualified adviser before making any changes to a pension. Some changes cannot be reversed.
Another important area of financial planning which is sometimes overlooked, is what happens when you die? Make sure your loved ones are protected and don't end up paying unnecessary tax.
Cambridge Financial Services Ltd is an Appointed Representative of Quilter Wealth Limited and Quilter Mortgage Planning Limited which are authorised and regulated by the Financial Conduct Authority. Auto-Enrolment, Tax Planning, Trusts, Employee Benefits and Estate Planning are not regulated by the Financial Conduct Authority.