Planning for Retirement:
Get Started with Your Pension

Around a century ago, people lived to 30 years old; now an increasing number of people are reaching their 100th birthday. Our lives are getting longer. To ensure you have enough to fund the lifestyle you want - start planning for your retirement. The sooner the better.

One Fifth

of the UK Population don’t have a Pension

65 Years

is the Average Retirement Age for Men

64 Years

is the Average Retirement Age for Women

Over a Third

of the UK who are not retired say they’ll never afford to

Here are a 4 Retirement tips to consider:

  • Choose HOW you want to retire - What is your end in mind? When do you want to retire? Can you afford to retire? Do you need to do part-time work or do you want relax and travel? Decide what you want to do, and we can plan how you can get there. Get Advice Now.

  • Choose how much you want as INCOME - This is very important, and this figure can vary depending on which stage of your life you are at. This amount could increase when your healthcare worsens, and costs needs to be paid. Do you wish to gift money to loved ones or help with school fees for example? We can assess your circumstance and show you what you need to do to get you on track of your finances.

  • Why PENSIONS? - Pensions are tax efficient. When you turn 55, (57 from April 2028) you can access your pension pot, and you can take up to 25% tax free. There is tax relief on personal and employer pension contributions which means some of the money that would have been paid to HMRC is transferred into your pension instead. There is no inheritance tax to pay on pensions for your family if you die before 75 - At Oasis Wealth we can help you reduce your inheritance tax bill. Contact us to learn more.

  • ISAs - You won’t be able to use your pension money until you are aged 55 years. So you could also consider contributing towards an ISA. For 2022/23 the maximum amount you can contribute into an ISA is £20,000 per year. This is income tax free and dividends you get from the shares are also tax free.

To prepare for your retirement and avoid any unexpected shocks you would need early financial planning and action. Contact us now for financial advice on how we can help you

The value of pensions and the income they produce can fall as well as rise. You may get back less than you invested. Investors do not pay any personal tax on income or gains, but ISAs do pay unrecoverable tax on income from stocks and shares received by the ISA managers. Tax treatment varies according to individual circumstances and is subject to change. Inheritance tax planning is not regulated by the Financial Conduct Authority.