Options at Retirement

At Nicholls Stevens we have been helping clients to select their retirement options for nearly 25 years. This year Carole Nicholls, the Principal of the firm won the Money Management Retirement Options Planner of the Year award, so we consider ourselves to be experts in this field

As you approach your normal retiremet age, you will be asked to make many decisions

The Government will write to you and ask you if you want to take your state pension, or defer

The Trustees of your occupationsl pension schemes will write to you and offer you various options under your pensions scheme one of the main options will be whether to take a full pension or a reduced pension and a tax free cash sum

The Insurance Company with whom you hold an AVC or a Personal Pension or a Retirement Annuity policy will write to you and offer you many options, not just concerning the tax free cash, but also whether you want a level pension or one which continues to your your spouse or one with a minimum guarantee

Under some of these schemes you will be offered the choice of an Open Market Option which means that you can buy your pension from another Insurance Company if they offer you better terms. In some instances you may be able to obtain better rates if your helath is not first class.

At Nicholls Stevens we are used to helping people make these decisions. Once we know a little about your personal background, your attitude to risk  and how you are aiming to spend your retirement, we explain your options to you in simple terms and help you to make the right decision.

Making the right decision is very very important, if you get it wrong you may be stuck with it for life. So, it is very important to take expert advice