An older couple sitting together outdoors

Pensions and retirement

Will your pensions pay for the life you want? Almost nobody knows, because nobody has added them up.

We find everything you hold, including the schemes from jobs you left years ago, project what each will produce, and put that next to what your retirement will cost.

That arithmetic is free, and it is where every pension conversation here starts.

When can you get at your pension?

55minimum pension age, rising to 57 in 2028
66State Pension age today, and rising
£60,000annual allowance for most people
25%usually available as tax-free cash, within limits

2026/27 rules. Pension tax rules change regularly, and the penalties for getting them wrong land on you.

The gap between those first two numbers matters a great deal when you are planning the shape of your income, because it is the stretch you have to fund yourself. Once you have flexibly accessed a pension a much lower annual allowance applies to anything you pay in afterwards, so the order you do things in can be worth a lot.

The types of pension we advise on

Each has its own rules on what you can pay in and how you take money out.

Personal pension
The straightforward private pension. You contribute, the government adds tax relief, and it stays invested until you draw it.
Self-invested personal pension (SIPP)
Wider investment choice and more control. Suits larger pots and people who want a say in where the money goes.
Workplace pensions
Auto-enrolment schemes from current and former employers. Often the largest thing people own and the least often reviewed.
Income drawdown
Taking an income straight out of the invested pot, with the flexibility and the investment risk that brings. You do not buy an annuity.
Defined benefit (final salary)
A promise of an inflation-linked income for life. There is no pot with your name on it. Giving one up is irreversible, and transfers of safeguarded benefits above £30,000 require specialist advice by law.
Small self-administered scheme (SSAS)
A company scheme for directors, which can hold commercial property and lend back to the business in defined circumstances.

Pension benefits and the tax treatment of them depend on your circumstances and on current rules, which can change. Accessing benefits can have lasting tax and income consequences.

An older couple at home reviewing their retirement plans

Is it too late to start a pension?

Almost never. People assume retirement costs less, and for most it does not. The mortgage may go and the commute disappears, then travel, hobbies and having seven days a week to fill take their place.

Even if you already have a workplace or private pension, an additional arrangement may add usefully to your retirement income. Whether it does is arithmetic, and we will do it with you before you pay anything.

Questions people ask us

I have lost track of an old pension. Can you find it?

Usually. Between the government's Pension Tracing Service, old payslips and P60s, and direct enquiries to former employers and their schemes, most pensions can be traced. It is one of the most common things we do at the health-check stage and one of the most frequently rewarding.

Should I transfer my final salary pension?

Start from the assumption that you should not. A defined benefit scheme is a promise of an inflation-linked income for life, and giving that up cannot be undone.

Transfers of safeguarded benefits above £30,000 require specialist advice by law, and in the great majority of cases staying put is the right answer. Where it genuinely is not, you will see the reasoning.

How much do I need to retire?

There is no figure that works for everybody. Yours depends on what you intend to do with your time, your health, what else you own, and whether you plan to stop completely. Working it out is the first substantial thing we do together.

What happens to my pension when I die?

Most modern pensions are paid at the scheme's discretion, guided by your expression-of-wish form. If that form is missing or out of date the money may not follow your intentions. We check them as a matter of routine and the correction usually takes ten minutes.

Can I keep paying in after I retire?

Yes, within limits, and there is tax relief available even on contributions made with no earned income at all, up to a modest annual amount. Once you have flexibly accessed a pension a much lower annual allowance applies to future contributions, so the order of events matters.

Will your pension pay for the retirement you want?

Whether your pensions will cover the retirement you want, and by how much they miss.

Answered in full

Longer answers to the questions that come up most on this subject.

Start with a free conversation.

Tell us what is on your mind: a pension you have lost track of, a fixed rate ending, a will you keep meaning to write. We will tell you honestly whether we can help.