UK Pensions

The cost of funding middle and old age is very expensive.  Typically, a 65 year old man with no other income would need to set aside a sum of around 34x his current spending to provide for him and his partners' future income needs, taking into account inflation.  This amount would be needed over and above a home.  The cost of long-term care may only add to this amount.

UK registered pension schemes are the only vehicles which provides:

  1. Tax relief on contributions
  2. Tax relief on investment accruals
  3. Sometimes all of the proceeds may emerge tax free.

No other savings vehicle offers this cocktail of tax relief.  As a result it means that investments made through a pension scheme could grow faster than if housed in any other structure.

Modern conditions require pension schemes to be constructed with the greatest possible flexibility to allow for different lifespans, different life styles and varying needs in retirement.   Many people retire gradually and not suddenly.

Starting saving in pensions early is advisable but ideally such savings should be arranged so that the funds accumulating are not “dead money” but are available if needed to invest in business and property related projects.

Nigel Sloam & Co offer a full range of pension projects designed to offer the maximum flexibility both in contributions, investments and benefit planning.  We design these to dovetail with other resources and try to ensure that they are utilised to produce maximum efficiency. We also can provide a full pension review of any existing structures.