What Are The Pension Basics? 

Understanding pensions may seem daunting, but everything starts with the basics. A pension is a long-term savings plan accumulated throughout your working years to secure a comfortable income for your retirement years. 

Designed For Your Later Life 

Pensions are specifically designed to support you financially in your later life, especially when you reduce or completely halt your work commitments. It’s important to note that typically, you can only access your pension once you’re at least 55 years old. This age limit is set to rise to 57 in 2028. The exact age may vary depending on the specifics of your pension scheme. 

The Tax Efficiency of Pensions 

One of the significant advantages of pensions is their tax efficiency. They are one of the most tax-efficient ways to save for your retirement. This is because you receive tax relief on your contributions, which means the government contributes every time you do. 

Embark On Your Pension Journey with Us 

To help you navigate the world of pensions, we invite you to take a journey with us. At F G Watts Financial Advisers, we aim to demystify pensions and help you understand how they can work for you. 

It’s vital to remember that the value of an investment through F G Watts Financial Advisers is directly linked to the performance of the solutions selected. Therefore, the value may fall as well as rise, and there’s a possibility that you may get back less than the amount initially invested. 

Taxation levels and bases, as well as reliefs from taxation, can change at any time. Moreover, tax relief is dependent on individual circumstances. 

Ready To Learn More About Pensions? 

If you require further information or have any questions, please contact us. Contact us on 01604 973400 or email us at enquiry@fgwattsifa.co.uk. We’re here to provide the expert financial advice you need for your pension planning.