YOU HAVE FLEXIBILITY You have many options and can do as you wish with your retirement pot since the introduction of pension freedoms in April 2015. You might want some core, guaranteed income for essentials such as gas, electricity and food costs. Your essential income could be met in various ways: n A final salary (or defined benefit) pension from an old employer; n Your state pension;
The remainder of your income could come from the rest of your savings and investments. Ultimately, however, doing the sums to decide how much you need and how this can be produced may prove difficult. Seeking financial advice can give you an idea of how much money you need to cover your essential outgoings, alongside maximising additional income from various assets to meet your personal retirement aspirations. 1
n P urchasing an annuity, which is a financial product that guarantees an income for life.
Paul Cannons E: paul.cannons@brewin.co.uk www.brewin.co.uk
Source: HMRC
The value of investments, and any income from them, can fall and you may get back less than you invested. Tax treatment depends on the individual circumstances of each client and may be subject to change in the future. Neither simulated nor actual past performance are reliable indicators of future performance. Information is provided only as an example and is not a recommendation to pursue a particular strategy. Information contained in this document is believed to be reliable and accurate, but without further investigation cannot be warranted as to accuracy or completeness. Brewin Dolphin Limited is a member of the London Stock Exchange, and is authorised and regulated by the Financial Conduct Authority (Financial Services Register reference number: 124444).
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