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Pensions Planning for your retirement

The advantages of investing in a pension 

People often think that Pensions Planning is a difficult task. Due to this, they ignore pensions until it is too late. The truth is, it’s a fairly simple concept and anyone can easily understand it. In this blog post, I’ll share some of the advantages of pensions planning and why you should definitely consider it. 

Planning for your financial future 

Our pension specialists can help you with state and work pensions, your overseas arrangements, managing exposure to inheritance tax, deciding if transferring and reframing your pension scheme is the best step for you to unlock tax benefits.

At some point in our life, we all think about our retirement and how the retirement age will be like. Most of the people even start savings at an early age so that they can use their savings after retirement. It is up to you how you want to spend your life after retirement. Whether you want to travel all the places you love or you want to spend more time with your family. However, planning for retirement is crucial because it is the only way to make sure that the quality of your life will be same or better after the retirement.

There are different ways through which, people save money for their retirement. Some people rely on state pensions whereas, others save money from their businesses and other ventures. However, one of the best ways to save money is through pensions planning. In simple words, pension planning is a plan for your retirement. It helps you in saving your money so that you can enjoy your life after retirement and fulfill your wishes. You save a part of your income in your working life so that this money can benefit you after you quit working and take retirement or after you start working for fewer hours.

Many employers also provide pensions planning to their employees in the form of a pensions fund. This money is invested and the earnings generated by this investment is given to the person upon retirement. There are different types of pensions plans and you can choose any plan as per your preference.

To maintain your standard of living

The most important advantage of pensions is that they allow you to maintain your living standard. As we age, our working capability and energy reduces. We cannot work with the same energy or passion that we have while we are young. Due to this, our income reduces once we retire. Therefore, pensions planning is very important for your old age because it provides you a cushion and makes up for the lost income. Due to this, you can maintain your standard of living even after retirement.

Tax reliefs

The government provides tax reliefs on pension funds in order to encourage people to save more into their pensions planning. Any type of income that is generated by a pensions fund will be exempted from tax.

For family members

We all like to spend money on our family members because it gives us satisfaction and a sense of joy. Pensions planning is not only beneficial for the pension holder but it can also be beneficial for the family members. In case of a member’s death, the dependents will receive a lump sum of money or the pension. This dependent could be a spouse or heirs.

It belongs to you

If you are working with a company that provides you a pension plan then this does not mean that your pension plan belongs to your employer. It belongs to you and even if the company stops its business or goes bankrupts, your pension fund will still be yours and it cannot be seized.

We are fully qualified to assist our clients to plan their financial future and offer expert one to one financial planning.

What we do

  • Investments
  • Pensions Planning
  • International Estate Planning
  • International Tax Advice
  • Existing Fee Analysis
  • Mutual funds Investments
  • Notes & Bonds
  • Personal 1 to 1 Planning
  • ETFs
  • QROPs
  • SIPPs

Get in touch

We would love to hear from you, so please get in touch for an informal chat or to book an appointment.

Please feel free to call us on: +971 2 6718622 or click below

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