| As successive governments keep reminding us, | | | | long-lasting commitment to a retirement annuity |
| too few people plan properly, if at all, for their | | | | you have considered all of the available choices |
| retirement; too few people appreciate that an | | | | and come up with the one that is just right for |
| investment now is an investment in their future | | | | you; |
| throughout retirement. So, if you are reading this, | | | | How flexible is my retirement date? Until April |
| you have the edge over that particular group of | | | | 2010, you can start to draw a (taxable) regular |
| people and are poised to do some serious planning | | | | income from your pension fund as soon as you |
| for the day you can stop working for your living. | | | | reach the age of 50 After April 2010, that |
| It is then that you will want to rest easy in the | | | | age-limit rises to 55. But how early (or late), would |
| knowledge that the retirement investment advice | | | | I, realistically, want to retire; how flexible is my |
| you were given was the best there was. | | | | retirement plan with respect to early retirement; |
| And how can you ensure now that you are taking | | | | and by how much would my income change if I |
| the best retirement investment advice? The only | | | | changed my retirement date? Again, these are all |
| sure way is to consult an independent financial | | | | vitally important questions that you would want to |
| adviser about the long list of questions which you | | | | discuss with your independent financial adviser. |
| will inevitably need to be able to answer in order | | | | Where do I stand with respect to Income Tax? |
| to be given the best advice on the type and | | | | It is not necessarily a straight forward question of |
| highest-performing retirement investment options | | | | all pension income being taxable. Some of what |
| to suit your particular circumstances. | | | | you receive certainly will be taxable, but other |
| For example, here are some of the questions on | | | | sources may not. Tax on your receipts during |
| which your independent financial adviser should be | | | | retirement can be something of a minefield - a |
| able to help in order to steer you towards the | | | | minefield which your independent financial adviser |
| best retirement investment advice: | | | | will be able to help you negotiate more safely and |
| I want a regular income when I enter retirement, | | | | securely; |
| so just how much will my current pension plan or | | | | The same goes for Inheritance Tax, I suppose? |
| investments produce? The earlier you start to | | | | Quite right. Staying the right side of the taxman |
| address this question, of course, the closer you | | | | on questions of inheritance is equally fraught and |
| will get to achieving the income you need; | | | | independent retirement investment advice will help |
| Will I need to buy an annuity? Even if the answer | | | | you to pick your way through the snares and |
| is yes, you are not done yet! Your options remain | | | | pitfalls; |
| wide open still. When it comes to pension | | | | What happens to my dependents when I die? |
| annuities, are many more choices than a standard, | | | | The retirement investment advice from your |
| fixed income annuity. Your independent financial | | | | independent financial adviser will also ensure that |
| adviser will want to run through these options | | | | whatever your concerns for your surviving |
| with you. He or she will want to ensure that | | | | dependents, these are reflected in the investment |
| before you take the serious plunge of a | | | | decisions that need to be made. |