Pensions & retirement
Plan your retirement around the life you want — not just the pension you have.
Retirement planning brings together your pensions, State Pension, savings, investments, spending needs and future choices so you can understand what is possible and how to use your money sustainably.
Current pension rules
Key UK figures for 2026/27.
Where are you now?
Different stages need different decisions.
Building pensions
Review contribution levels, tax relief, employer contributions, investment strategy and whether existing plans are working together efficiently.
Approaching retirement
Understand when you could retire, what income you may need and how your pensions and other assets could support the plan.
Taking retirement income
Compare drawdown, annuities, lump sums and combinations of these approaches, including the tax and investment implications.
Already retired
Review whether withdrawals remain sustainable, whether investments still fit the plan and how changing circumstances affect future income.
Retirement planning
Start with the income you need, not the pension product.
A pension value on its own does not tell you whether you are ready to retire. The important question is how all available resources can support your expected spending over time.
Pension transfers & consolidation
Combining pensions can simplify things — but transferring is not automatically better.
Before transferring, the existing scheme needs to be checked for valuable features, guarantees, protected benefits, charges and access options that could be lost.
- Guaranteed annuity rates
- Protected tax-free cash or pension age
- Safeguarded or defined benefits
- Exit penalties or valuable existing charges
- Employer contributions or active workplace benefits
- Investment choices and retirement-income functionality
Do not transfer solely for convenience.
A simpler portfolio can be useful, but the benefits of consolidation need to outweigh the costs and any valuable rights being surrendered. Defined benefit and safeguarded-benefit transfers can also involve additional regulatory requirements.
Our process
Build the retirement plan before choosing the product.
Understand
Bring together pensions, State Pension, savings, investments, income needs and your preferred retirement timing.
Model the plan
Assess how spending, tax, inflation, investment returns and longevity could affect your future position.
Research
Review existing plans and suitable retirement solutions, including costs, benefits, guarantees and investment strategy.
Recommend & review
Explain the recommendation clearly and keep the retirement strategy under review where an ongoing service applies.
Frequently asked questions
Pension questions, explained clearly.
When can I normally access my pension?
The normal minimum pension age is currently 55 for most registered pension schemes. It is scheduled to rise to 57 from 6 April 2028. Some people have protected pension ages or may qualify for limited exceptions.
Can I usually take 25% tax free?
Defined contribution pensions often allow up to 25% of qualifying benefits to be taken tax free, but the total tax-free amount is also subject to the lump sum allowance. The standard lump sum allowance is £268,275 for most people.
What is the pension annual allowance?
The standard annual allowance is £60,000 for 2026/27, but tapering, carry forward and other rules can change how much tax-relieved saving is available in an individual case.
What is the MPAA?
The Money Purchase Annual Allowance can apply after certain forms of flexible access to defined contribution pensions. For 2026/27 it is £10,000 and can restrict future tax-relieved money-purchase pension saving.
Should I consolidate my pensions?
Only after checking whether the existing plans contain guarantees, protected benefits, valuable charges or other features that could be lost. Simplicity alone is not enough to justify a transfer.
Drawdown or annuity?
They solve different needs. Drawdown offers flexibility but retains investment and sustainability risk. An annuity can provide guaranteed income. A retirement plan can also combine both approaches.
The value of pension investments can fall as well as rise and you may get back less than invested. Taking pension benefits can create tax consequences and may reduce future retirement income. Pension transfer decisions can also result in the loss of valuable guarantees or protections. Tax and pension rules depend on individual circumstances and can change.
Plan retirement with clarity
Understand what your pensions can actually support.
We can bring together your pensions and wider finances so retirement decisions are based on the life you want and the resources available to fund it.