What is Pension Freedom? by Keith Littlewood DipPFS Blacktower Financial Management (International) Ltd
For almost 30 years now I have worked in the pension’s industry. I started out helping people save and plan for their retirement into schemes that had certain rules and legislations and barriers to how benefits could be taken. Quite often clients were put off by the restrictions even though generous tax reliefs were offered as incentives. It is ironic now that for people who had pensions either saved personally or accumulated whilst being members of their employer’s schemes have now had many of those barriers lifted by the Government and are now left with Pension Pots that they can have ‘almost’ total control of.
Now many people find Pensions very confusing, for me it has been a large part of my whole working life. I can help you understand what your pension statements mean. I can even write to a company you worked for or a provider you saved with and get all the information you need so that I can explain in simple terms what your benefits now mean to you.
Quite often a client will be unaware of what benefits they have. This happened very recently to me when a client asked me to contact an employer as she had worked for part time for just 5 years 20 years ago. She was gobsmacked when I got the information back and she had a pension valued at above £200,000 – this is now helping her plan her retirement and can do the travelling she thought she would never be able to do.
This lady was 56 years old and instead of waiting another 4 years to receive benefits she could access them now by transferring to a Qualifying Registered Overseas Pension Scheme as she now lived in Spain and not the UK. I saw a picture recently on Facebook that she was enjoying a holiday of a lifetime in Peru.
It is very easy to find out information on your pension. Contact me and I will complete a letter of authority from you then I will do all the work from there. When I get the information back I will contact you and explain what all your options are. There is no charge for this service so it is very worthwhile for you to dig out your UK National Insurance number and arrange for me to see you.
In today’s financial climate it is essential you do everything you can to make sure your money is safe and secure and what you want to transpire in the future has the best chance of happening. If you need advice or if have any questions regarding the above you can contact me, Keith Littlewood DipPFS on 657 684 094 or email firstname.lastname@example.org
The above information was correct at the time of preparation and does not constitute investment advice and you should seek advice from a professional adviser before embarking on any financial planning activity.
Blacktower Financial Management (Int) Ltd is licensed in Gibraltar by the Financial Services Commission (FSC) and is registered with both the DGS and CNMV in Spain