Independent Pension Advice

How Can Independent Pension Advice Benefit Me?

To put things simply, a pension is a government backed tax savings incentive to encourage you to save for your retirement. You will receive tax relief on your money as it goes into a pension, and you can also take a percentage of the money tax free. In most cases, you cannot access the funds until you reach your minimum pension age, which is why the proper execution of a pension savings strategy is one of the most important pillars of retirement planning.

As your circumstances change, there may be a time in which you need to transfer your pension. A pension transfer is where you move the value of your pension contributions from one scheme to another.

There are different reasons why you may require a pension transfer. For example, your current workplace may have a scheme that is being discontinued, you may have seen another scheme that suits your personal pension fund and current situation, or you may be going through a divorce and need to split your pension on divorce.

No matter what the situation may be, our independent pension advice & local pension adviser team who are happy to help with any questions you may have surrounding your pension and advise you on the best route to take based on your individual circumstances.

Why is Pension Planning so important?

Regardless of income, most people go through life with the expectation that they will be able to retire and continue to live comfortably. However, without pension advice, it leaves the door open for things to go wrong in the future, by which time it’s usually too late.  When you are closing in on retirement age, the last thing you want is to find out that you have less money in your pension pot that what you had originally thought, leading you to struggle through the years that you should be unwinding.

As the average life expectancy continues to rise, ensuring that your pension is working alongside your larger retirement plan is fundamental. Our financial planners will put you on the right track, ensuring that you have the right pension scheme and the necessary capital to guarantee that you have a sufficient blue print to safeguard your future with a personal pension fund.

What can KLO Financial Services help me with?

Our experienced independent pension advisers can provide bespoke solutions that work for you and your family. Working alongside us means that you can rest easy knowing that you are prepared for life after you retire.

Our pension advisers can assist you with:

We’re Here to Help

Contact Us Today

We are always eager and available to meet with you to discuss your financial objectives and assess your current strategies. No question is too big or too small. The first consultation is always free and comes with no obligation. If you’d like to speak to one of our expert financial advisers, get in touch today.

Independent Financial Advisers

Why KLO Financial Services?

At KLO Financial Services, our experienced and knowledgeable advisers will be there for as long as you need to offer personal, bespoke, pension fund solutions.

Why is planning my pension so important?

The importance of pensions shouldn’t be underestimated. Below, we have listed five key benefits to financially preparing for your retirement with the help of a independent pension advice:

Tax Relief

By paying into a pension, you will qualify for tax relief on your contributions. If you pay into an occupational or public service pension, your monthly pension contributions are usually deducted from your gross wage, meaning you do not have to pay any income tax on the amount paid in.
If you pay into a personal pension fund, you can claim the tax relief back from the government as the money you pay is from your net salary.
The tax relief is a great help in building up your pension fund prior to retirement and means you are able to give larger contributions.

Guaranteed Income

When you near the end of your working life, you have the option of purchasing an annuity to guarantee you an income throughout your retirement. There are several different types of annuities available, however they will all provide you with a weekly or monthly sum for you to live on throughout your retirement.

Employer Matched Contributions

Another benefit of having a personal pension plan is that employers are required to match your contributions to a certain value as part of your salary package. This essentially doubles the funding of your pension and is an easy way to boost the overall value of your pension fund.

Peace of Mind

One of the most important benefits of having a pension is that you can reduce financial worry, not only during your retirement, but also in the years leading up to it. With the support of a financial adviser, you can sleep at night knowing that you are preparing for life after you retire in an efficient, and strategic way.

Looking at the Bigger Picture

Pensions are a massive contributor to your bigger retirement plan and can work alongside your other saving methods in order to prepare financially for your future. A local pension adviser can assist you in finding the right pension, while offering retirement planning advice.

Need Help?

Frequently Asked Questions

The UK State pension you receive is unlikely to provide you with a comfortable standard of living, so you will need your own pension to supply additional income when you stop working.

This is dependent on your own personal situation. Most people hope to retire on two thirds of what their salary is at retirement, but very few get there without professional financial assistance. At KLO Financial Services, we can help you develop personal financial goals and achieve them.

In the UK, the normal minimum pension age is currently 55, however some schemes may allow you to access your plan early. It’s important to note that just because you can access your pension, it doesn’t mean you should. We can assist you with understanding how and when you should access your pension.

Generally, the answer is yes. Most pensions let you remove a portion tax free, but some policies may have different rules.

An annuity is an insurance policy that you can purchase using your pension pot in order to guarantee you a monthly income. There are two types of annuity: lifetime annuities and fixed-term annuities. Lifetime annuities will pay you an income for life, whereas fixed-term annuities will only pay an income for a set period.

This is a personal decision that should be made after careful consideration of many factors. These factors include your pension scheme, your feelings towards risk and what your expectations are. Our financial planners can assist and advise you on portfolio diversification and investments.

Should you pass before you retire, your pension fund is normally paid to your beneficiaries.

What Our Clients Say?

KLO Financial Services

I have a had a great experience using KLO, was able to set up a call easily and got some good advice. I spoke with Terry and he was good to talk to so I would recommend giving him a call if this is something you need any help with!

KLO Financial Services

I have dealt with Matt Booton for many years and always had an excellent service and very good relationship.

KLO Financial Services

James provides clear, honest, professional guidance everytime.

KLO Financial Services

I cannot recommend James highly enough. He is completely professional, very knowledgeable, and very pleasant and helpful always.

KLO Financial Services

Steve has been great throughout the process of life assurance and pension switch.

KLO Financial Services

James has been my financial adviser for several years now, and I am continually impressed by his customer care, knowledge of the market, and attention to detail. During our regular face to face meetings, my finances are discussed and reviewed in a clear and practical way. If I have any questions, James is always on hand with easy to understand advice. And every decision we make together is promptly followed up. I can’t recommend James and KLO Financial Services highly enough. They are a company who genuinely care about their clients, and I feel comforted to know my finances are in such safe hands.

KLO Financial Services

I couldn’t be more pleased to have James Glavey at KLO as my financial adviser. He is doing really good things with my portfolio, but above all I trust him to do so and this is paramount for me.

KLO Financial Services

Dan has been ultra professional , explaining all my options in a straightforward way and his customer service and that of KLO has been first rate .

I would highly recommend Dan and the team at KLO.