Pension Specialist2024-02-12T21:17:45+00:00

Breaking news… 62% of people don’t know how much they’ve saved for retirement. If you’re one of these, be VERY worried!

Book a pension review NOW to avoid a financial crisis

Breaking news… 62% of people don’t know how much they’ve saved for retirement. If you’re one of these, be VERY worried!

Book a pension review NOW to avoid a financial crisis

After working hard your entire life, you want to maximise your retirement and pension income by making smart choices with your pensions and other investments.

Welcome to Tony Thomas Wealth Management, a dedicated Pension Specialist committed to guiding you towards a secure and prosperous retirement. Over 30 years of expertise in pension planning ensures you receive personalised advice tailored to your unique financial situation and retirement goals.

Expert Pension Advice for Your Retirement Journey

Navigating the complexities of pension planning is a critical step towards ensuring a comfortable and secure retirement. At Tony Thomas Wealth Management, our role as your Pension Advice Specialist is to simplify the process, offering clear and actionable guidance tailored to your individual needs. Whether you are in the early stages of saving for retirement or are seeking ways to enhance your current pension arrangements, our commitment is to provide you with the support and expertise necessary to make informed decisions.

Understanding that each individual’s retirement vision is different, we take a personalised approach to pension advice. This means diving deep into your financial situation, exploring your future goals, and considering the lifestyle you envisage for your retirement years.

With these insights, we develop a comprehensive pension planning strategy that addresses your specific needs, from optimising your pension contributions to navigating the complexities of government pension schemes.

My goal is to ensure that your retirement planning process is straightforward, transparent, and aligned with your long-term objectives, providing a solid foundation for your financial future

Why Choose a Financial Advisor for Pensions?

Choosing a financial advisor means opting for a pension specialist who is dedicated to creating tailored retirement strategies.

As a financial advisor for pensions, we take the time to understand your financial situation, lifestyle goals, and retirement aspirations to provide customised advice that truly makes a difference.

Choosing a professional ensures that everything is considered carefully and you aren’t missing out on any key information. You could always create your own pension plan, but specialist pension advice is sure to be worth the investment.

A Partner In Planning Your Future

We believe in building lasting relationships with our clients.

As your Pension Advisor, we’re committed to being your partner in planning for the future, offering clarity and confidence as you navigate the path to retirement. Using our specialist pension services, you aren’t alone, and your retirement income is in the best possible hands.

Retirement Options Relaxing

What Do Pension Advice Specialists Do?

Pension advice specialists play a crucial role in helping individuals navigate the complexities of retirement planning. Their expertise and guidance can be invaluable in making informed decisions about your pension and retirement strategy.

Here are three key aspects of what pension advice specialists do:

1) Tailor Personalised Pension Strategies

Pension advice specialists assess your individual financial situation, retirement goals, and risk tolerance to create personalised pension strategies.

They understand that one size does not fit all when it comes to retirement planning. By taking into account your unique circumstances and objectives, they devise customised plans that aim to maximise your pension.

2) Provide Comprehensive Retirement Planning

Beyond just pension advice, these specialists offer comprehensive retirement planning services. This includes analysing various income sources for retirement, such as state pensions, private pensions, workplace pensions and other investments.

They help you understand how each component fits into your overall retirement plan, offering insights into how to balance and optimise these sources for a steady income stream in your retirement years.

3) Navigate Regulatory and Tax Implications

The regulatory environment and tax implications surrounding pensions can be complex and ever-changing. Pension advice specialists stay abreast of the latest regulations, tax laws, and financial products to provide advice that is not only current but also compliant.

They guide you through the intricacies of pension regulations, helping you to make choices that are tax-efficient and in line with legal requirements.

This ensures that your pension planning is both effective and adheres to the latest standards and practices in the financial landscape.

Serving All Of The UK With Professional Advice

TT Wealth are proud to extend professional pension advice and financial planning services across the entire United Kingdom. Whether you’re nestled in the bustling streets of London or enjoying the scenic landscapes of the Welsh Hills, we are equipped to provide you with the highest level of service.

Our aim is to empower individuals from all corners of the UK with the knowledge and strategies needed for a secure and prosperous retirement. No matter where you are, your pension funds are in safe and capable hands with our personal pension advice.

Just give us a call and see how we can help.

Retired Couple walking after receiving advice from a pension specialist

Place Your Pension Fund In The Right Hands

Ready to take the next step in securing your financial future?

Contact TT Wealth today – we are ready to provide you with the expert advice and guidance you need to make informed decisions about your retirement planning. Let us help you achieve the retirement you’ve always envisioned with the peace of mind that comes from having solid financial planning in place.

Join the many individuals who have trusted TT Wealth with their pension planning. Together, we’ll create a strategy that not only meets your financial needs but also fulfils your retirement dreams.

For retirement planning and specialist pension advice, please call Tony on:
Mobile: 07585 592494

OR

NOTE: A PENSION IS A LONG-TERM INVESTMENT.

THE FUND VALUE MAY FLUCTUATE AND CAN GO DOWN, WHICH WOULD HAVE AN IMPACT ON THE LEVEL OF PENSION BENEFITS AVAILABLE. PAST PERFORMANCE IS NOT A RELIABLE INDICATOR OF FUTURE PERFORMANCE.

PENSIONS ARE NOT NORMALLY ACCESSIBLE UNTIL AGE 55. YOUR PENSION INCOME COULD ALSO BE AFFECTED BY INTEREST RATES AT THE TIME YOU TAKE YOUR BENEFITS. THE TAX IMPLICATIONS OF PENSION WITHDRAWALS WILL BE BASED ON YOUR INDIVIDUAL CIRCUMSTANCES, TAX LEGISLATION AND REGULATION, WHICH ARE SUBJECT TO CHANGE IN THE FUTURE.

Client Testimonials

If you are looking for tailored financial advice about how to prepare (financially) for retirement, look no further than Tony. After just a one hour initial consultation, I now have a clear plan on how to fill the small gap between the money that I have to retire on and the money that I need to retire on.

Tony’s approach is thorough, patient and understanding – everything that you need a financial planner to be. He asked me exactly the right questions and very quickly came up with a number of options that I have now implemented.

Talk to Tony now, before it’s too late!

Jane Ferré, March 2019

Jane Ferre Testimonial

I wanted to release my defined contribution pension pot from my ex-employer and change it to a scheme where I could draw down payments as and when required. Tony helped to identify our needs and liaised with my ex employer’s pension administrators to search the market for a product to meet our needs. Having talked to other colleagues of my ex-employer and heard how difficult their process has been, we appreciate that without Tony’s professional background, we would not have achieved the result. The ex- employer administrator appeared to put obstacles in our way at every turn.

We achieved a scheme which permits draw down as and when required whilst allowing the pot to still grow (hopefully, depending on the markets) , rather than settling for a low rate annuity. Also, any money left in the pot doesn’t disappear when I die, but becomes part of my estate. Tony listened, didn’t push us in any particular direction, but asked the questions which gave us the ‘tools’ to identify our needs- and then delivered.

David, November 2018

I had a couple of pensions and wanted to be able to put the pensions into the most profitable scheme and draw down money in the most cost efficient way. Tony did a full financial review of my circumstances, including my aspirations, and came back with some options, including what has turned out to be a very effective new pension.

Peter, November 2018

Tony has given me very sound advice prior to me taking early retirement.

I would recommend Tony to anyone seeking similar advice.

Martyn Lewis, Feb 2019

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Frequently Asked Questions

Do I Need A Financial Adviser?2024-02-05T13:31:44+00:00

Whether you need a financial adviser depends on your comfort level with managing your finances and the complexity of your financial situation. If you’re unsure about making investment decisions, planning for retirement, or navigating tax laws, consulting a financial adviser can provide valuable insights.

What is a Good Pension Pot at 55?2023-04-27T22:43:55+01:00

A comfortable retirement income is one that allows you to maintain your standard of living after you stop working. The amount of income needed to achieve this will vary from person to person, depending on their individual circumstances.  This article explains further: https://ttwealth.co.uk/what-is-a-good-pension-pot-at-55/

How Much Is The UK New State Pension?2023-11-07T15:13:16+00:00

The full new State Pension is currently £203.85 per week (as at April 2023).

For more information please visit our Ultimate Guide To The UK State Pension

Can I Pause Or Cancel My Pension Contributions?2023-03-07T17:34:37+00:00

Whilst it is, of course, possible to pause or cancel pension contributions, the impact on your pension savings and therefore your retirement income could be significant. I highly recommend that you speak with your pension provider, or get independant financial advice before taking any action.

For further information please read the following article:
Pausing or Stopping Pension Contributions

Are Pension Contributions Taxable?2023-03-07T17:34:42+00:00

There is some confusion about whether or not pension contributions are taxable. In general, contributions to a pension plan are considered to be a pre-tax expense.

This means that you will not have to pay taxes on the money that you contribute to your pension plan. However, there may be some exceptions to this rule.

For example, if pay more than your annual allowance, or 100% of your earned income (e.g. salary and/or taxable benefits), you may be subject to additional tax on your pension contributions.

What is a Workplace Pension?2023-03-07T17:34:54+00:00

A workplace pension, also known as an occupational pension, is a retirement savings plan offered by an employer. Employees contribute a portion of their monthly salary to the plan, and the employer often matches those contributions. The money in the plan grows over time, and can be withdrawn once the employee retires.

There are several advantages to having a workplace pension.

1) Workplace pension tax relief

Workplace pensions offer tax breaks. The money that is contributed to the plan is not subject to income tax, so employees can save more of their salary.

2) Fees

Workplace pensions often have low fees. This is because the employer often covers the cost of the plan

3) Growth

Workplace pensions are a great way to save for retirement. The money in the plan grows over time, and can be withdrawn once the employee retires.

4) Regulated

Workplace pensions are regulated by the government, so employers cannot take the money out of the plan. This ensures that employees will have enough money to live on in retirement

What is a Stakeholder Pension?2022-04-04T16:42:07+01:00

A stakeholder pension is a type of pension plan that is designed to benefit both the employer and the employee. It is a defined contribution plan, which means that the amount of money that is paid into the plan is predetermined.

This type of plan is different from a traditional pension plan, which is a defined benefit plan. With a defined benefit plan, the amount of money that is paid out to the retiree is based on a formula that takes into account the employee’s salary, years of service, and other factors.

A stakeholder pension plan can be either an occupational pension plan or a personal pension plan. An occupational pension plan is one that is offered by an employer to its employees. A personal pension plan is one that an individual sets up on his or her own.

There are several advantages to having a stakeholder pension:

  1. The employer and employee both make contributions to the plan. This can help to lower the overall cost of the plan.
  2. The funds in the plan are portable, which means that the employee can take them with him or her if he or she changes jobs.
  3. A stakeholder pension plan is also flexible, which means that the employee can choose how to invest his or her money. This gives the employee a lot of control over his or her retirement savings.
  4. Finally, a stakeholder pension plan is easy to set up and does not require a lot of paperwork.

There are several disadvantages to a stakeholder pension plan as well

One disadvantage is that the employee may not be able to access his or her funds until he or she reaches retirement age.

Another disadvantage is that the employer may not contribute as much money to the plan as it would to a traditional pension plan

A stakeholder pension plan is a good option for employers and employees who want to save for retirement. It is a flexible, low-cost plan that gives the employee a lot of control over his or her retirement savings.

How To Unlock Or Cash In Pensions At 552023-04-27T22:36:47+01:00

Under pension freedoms, the rules allow anyone aged 55 and over to take the whole amount of their pension pot as a lump sum, 25% of this will be tax free, but the rest being taxed as earned income in the year it’s taken out.  Find out more here: https://ttwealth.co.uk/flexi-access-drawdown-pension/

How Can I Transfer My Pension Myself Instead Of Using A Financial Adviser?2023-02-05T17:46:10+00:00

It is possible to transfer an occupational pension scheme, to a personal pension or a SIPP yourself.

However, if the CETV (Cash equivalent transfer value) is above £30,000 or includes safeguarded benefits or guarantees, then advice from a financial adviser is required.

Find out more in the following article:
https://ttwealth.co.uk/should-i-transfer-my-pension/

How Can I Use Flexi Access Drawdown To Receive A Flexible Retirement Income2021-02-21T11:10:40+00:00

You can leave your money in your pension pot and take an income from it.

Any money left in your pension pot remains invested, which may give your pension pot a chance to grow, but it could go down in value too.

Pension Annual Allowance – How Much Is It?2019-04-25T15:10:30+01:00

The annual allowance is a limit on the total amount that can be paid into your pension scheme(s) each year and still receive tax relief.

The annual allowance is currently capped at £40,000.

What Is The Pension Lifetime Allowance2023-11-06T22:53:38+00:00

The Lifetime Allowance (LTA) is a limit on the amount of pension benefit that you can draw out from your pension scheme(s), whether lump sums or retirement income without triggering an extra tax charge.

The Lifetime Allowance for most people is £1,073,100 for the tax year 2023-24. It applies to the total of all the pensions you have, including the value of pensions.

The charge for breaching the LTA limit was removed in April 2023, and the allowance will be abolished completely from April 2024.

What Happens To My Pension When I Die2019-04-25T15:10:39+01:00

Your unused pension pot wouldn’t normally be included in your estate for Inheritance Tax purposes.

In addition, if you die before age 75 your pension pot will pass tax free to your beneficiaries, provided the money is paid within two years of the pension provider becoming aware of your death.

If you die after the age of 75, then the remainder of your pension pot will still pass free of Inheritance Tax, but any benefits withdrawn will be taxed at the beneficiary’s marginal income tax rate.

How Does A SIPP Work (And Who Can Have One)2021-02-21T11:09:30+00:00

Saving for a retirement via a SIPP pension puts you in control of your financial future.

Just like any other kind of pension, Self-Invested Personal Pensions are designed to help you save for retirement and take an income when you reach it. Any individual who is resident in the UK under the age of 75 may make contributions to a SIPP, and in certain circumstances non-UK residents who have had UK earnings in previous years may also be eligible.

How Do I Consolidate My Pensions2021-02-21T11:11:29+00:00

You will need to contact your pension providers to get transfer values. Then ask them to transfer the funds into your new pension plan.

Or, we can do all this work for you following a financial review.

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