Pension Advice & Planning
Because having the right perspective on pension advice changes everything.
Your pension is far more than a retirement fund. It is one of the most important tools for achieving the future you want. Whether you are building wealth for later life, reviewing existing arrangements or wondering when you can afford to retire, the decisions you make today can have a significant impact on tomorrow.
Your pension advisor will help you see the bigger picture. Using sophisticated cashflow modelling and financial planning technology, your financial future will come into focus, helping you understand how your pensions fit alongside your wider financial goals.
What is Pension Planning?
Having the right perspective on your pension means looking beyond the numbers and understanding how your retirement savings can support the future you want.
Pension planning is the process of setting retirement goals, reviewing your existing pension arrangements and creating a strategy to help achieve them.
Effective pension planning considers more than just your pension pot. It includes pension contributions, investment planning and growth, retirement income options and the tax relief available to you. As your circumstances change through life’s key milestones, your pension strategy should evolve too.
From understanding how a self-employed pension works to deciding whether a pension drawdown or pension annuity is right for you, your financial advisor can provide expert, personalised pension advice and planning support to help you meet your goals.
We always take great care and use best endeavours to make every effort to get things right first time, we appreciate that mistakes can occasionally happen. If you believe something is not correct or you are unhappy with any aspect of our service, please do get in touch with us. Your Financial Planner should be your first point of contact. Alternatively, you can contact their Office Principal using the details provided on this website. We will listen to your concerns and do our best to resolve the matter promptly and fairly.
If you wish to make a complaint, please contact the Complaints Inbox at complaints@pfgl.co.uk and the matter will be handled in line with the complaint handling rules set down by our regulator, The Financial Conduct Authority.
If after your complaint has been investigated, you remain unhappy with our response, you may be able to refer your complaint to the Financial Ombudsman Service, which can be contacted as follows:
The Financial Ombudsman Service, Exchange Tower, 1 Harbour Exchange Square, London, E14 9SR
Tel: 0800 023 4567
Local Expertise. National Strength.
Perspective Financial Group Limited brings together a collection of FCA-authorised financial planning firms operating from regional hubs across the UK, united by a shared commitment to helping clients achieve their financial goals with confidence.
FCA Authorised Firms
Financial Planning Specialists
VouchedFor Top Rated Advisors Across the Hubs
Over 35 Years Experience Across the Hubs
Client-Focused Advice
Pension Expertise within the FCA Regulated Hubs
The Five Ages of Pension Planning
No matter if you’re starting your career, self-employed, managing multiple pensions, looking to improve tax efficiency or approaching retirement, expert pension advice can benefit you at every stage of life. It’s also valuable if you’re reviewing or consolidating pensions, planning how to access your benefits, inheriting a lump sum or pension and helps you make confident, informed financial decisions.
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18–35
Positioning
Focus on building strong foundations
Starting early gives your pension more time to benefit from compound growth, while regular contributions can help establish habits that support your future financial goals.
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35–50
Protecting
Focus on balancing today's responsibilities with tomorrow's ambitions
As your career progresses and family commitments grow, it’s important to ensure your pension planning remains on track while protecting the future you’re working hard to build.
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50–60
Planning
Focus on turning retirement aspirations into a clear strategy
This is the time to review your pension arrangements, understand your retirement timeline and ensure your savings are aligned with the lifestyle you want to enjoy.
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60–75
Prioritising
Focus on making the most of your retirement income
Careful planning can help you access your pensions efficiently, manage tax considerations and create an income strategy that supports your retirement goals.
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75+
Passing On
Focus on the legacy you want to leave behind
Your pension can play an important role in estate planning, helping you consider how your wealth can support loved ones and future generations in a tax-efficient way.
The Financial Conduct Authority does not regulate taxation advice.
The value of investments (in a pension) can go down as well as up and you may get back less than the amount invested.
Because having the right perspective helps you answer the questions that matter most.
When can I afford to retire?
Understanding how your pension, savings and investments work together can help you identify when retirement becomes a realistic option, and what your retirement lifestyle could look like.
Am I contributing enough to achieve the retirement I want?
Regular pension contributions can help build your retirement savings over time, while making the most of valuable tax relief and employer contributions. Regular reviews can help ensure your pension contributions remain aligned with your goals, giving you confidence that you are on track for the future you want.
Am I on track for the retirement I want?
Perhaps the most important question of all. Through personalised advice and cashflow modelling, your advisor can help you understand whether your current pensions plans can support your future ambitions and what changes could help you get there.
Pension Calculator: a common question is ‘how much do I need in retirement and how much will I have?’. There are several pension calculators available and you can gain a quick initial overview of your current position with tools such as Pension calculator | Work out your retirement income | MoneyHelper
The Retirement Living Standards can be a helpful guide when thinking about the lifestyle you would like your retirement savings to support.
Is my pension invested in a way that reflects my goals?
The way your pension is invested can have a significant impact on your future retirement fund. The right investment strategy should reflect both your objectives and your attitude to risk.
How will I turn my pension savings into retirement income?
Understanding your options for accessing your pension is an important part of retirement planning. The right approach can help provide flexibility, sustainability and peace of mind.
Am I making the most of the tax allowances available to me?
Pensions remain one of the most tax-efficient ways to save for the future. Expert pension advice can help you maximise available allowances and access your benefits efficiently when the time comes.
What will my retirement income be?
Pension planning helps you understand where your income will come from in retirement and how to access it in a sustainable and tax-efficient way.
Do I have a clear picture of my pensions?
Many people accumulate multiple pension arrangements throughout their career. Reviewing and organising them can make it easier to understand your overall financial position.
Should I be consolidating my pensions?
Pension consolidation means combining two or more pension pots into a single plan, so your retirement savings can potentially sit under one set of rules, charges and investment choices. Having the right perspective on pension consolidation means understanding that it is not simply about reducing paperwork or combining pension pots but ensuring your pension savings are working as effectively as possible towards the retirement you want to achieve.
It is not right for everyone, with some older pension schemes carrying guarantees or benefits that would be lost on transfer, which is why regulated advice matters before you move anything.
Ready to review your pension planning?
Book your initial free consultation with an expert pension advisor to discuss your goals for your retirement income.
What are the different types of pensions?
There are a range of pension types available in the UK.
State Pension
State pensions are government funded from the moment you begin working. They are based on your National Insurance (NI) contributions, and you must meet the legal retirement age to claim them. This age depends on your date of birth and is scheduled to increase from 67 by April 2028.
Workplace Pension
Workplace pensions are arranged by your employer. They are funded through contributions from both you and your employer for as long as your employment with them lasts. This type of pension is often boosted by government tax relief.
The most commonplace workplace pension is a Defined Contribution and the final value of your pension at retirement will depend on how much has been contributed and how well the underlying investments perform. Defined Contribution or Final Salary pensions provide a guaranteed retirement income and based on your salary and length of service etc rather than investment performance.
Personal Pension/Private Pension
A personal pension, sometimes known as a private pension, is a scheme that can be set up by an individual. The money is invested over time to help build growth.
Self-Invested Personal Pension (SIPP)
A Self-Invested Personal Pension (SIPP) can offer greater flexibility and control over how your retirement savings are invested. Unlike many traditional pension arrangements, a SIPP allows you to choose from a wide range of investment options, including funds, shares, investment trusts and exchange-traded funds (ETFs). A SIPP can be a favoured option by individuals who want a more hands-on approach to managing their pension, while still benefiting from tax-efficient pension saving. As with any investment-based pension, it is important your choices align with your long-term retirement goals and attitude to risk.
Junior SIPP
A Junior SIPP is also available for children under 18 and is managed by a parent or guardian until adulthood.
What does pension advice cost?
Your initial consultation with your advisor is free and carries no obligation. It is an opportunity to understand your position and establish how pension planning would be worthwhile.
Should you decide to proceed, all fees are explained clearly and agreed with you in writing before any work begins.
Speak to a pension advisor today
Whether you’re starting pension planning, maximising your contributions or preparing to access your retirement income, pension planning advice can help you make informed decisions with confidence.
The Financial Conduct Authority does not regulate taxation advice.
The value of investments (in a pension) can go down as well as up and you may get back less than the amount invested.
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Frequently Asked Questions
A pension is a long-term savings plan designed to provide income in retirement. Contributions are invested over time, often benefiting from employer contributions and tax relief, helping your money grow until you’re ready to access it.
The right amount depends on your income, retirement goals and circumstances. Contribute as much as you can comfortably afford, making the most of employer contributions and tax relief where available, while reviewing your plan regularly.
Self-employed people can usually contribute up to 100% of their annual earnings and receive tax relief, subject to the annual allowance, which is currently £60,000 for most people. Individual limits may vary and a financial advisor can help you understand how much you can contribute into your self-employed pension.
Yes, you can still pay into your pension after age 75, but your contributions will no longer benefit from tax relief. A financial advisor can help you decide whether continuing to contribute is right for your circumstances.
Most defined contribution pensions can currently be accessed from age 55, rising to 57 from 2028 for many people. When and how you access your pension can significantly affect your retirement income and tax position.
Depending on your pension scheme and HMRC limits, it is possible to take up to 25% of your pension as tax-free cash from the age of 55, rising to 57 in 2028. How and when you take it makes a big difference to your retirement income, tax position and long-term financial plan. Your financial advisor can help you understand the options available and decide whether taking tax-free cash supports the retirement you want.
Pension tax relief means the government boosts eligible pension contributions by refunding the tax you have paid, making pensions one of the most tax-efficient ways to save for retirement. Higher and additional-rate taxpayers may be able to claim extra relief.
Basic rate relief under “relief at source” schemes is added automatically, but higher-rate must be manually claimed directly from HMRC.
Property is often seen as a way to build wealth, but it usually requires a large initial investment and can be affected by market conditions. A pension or ISA offers an alternative route to long-term saving without the need for a significant upfront outlay. An advisor can help you understand the different options and what may be right for you.
Pension drawdown lets you keep your pension invested while taking flexible withdrawals. An annuity converts some or all of your pension into a guaranteed income for life or a fixed term. The right choice depends on your current circumstances and future financial goals.
