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Trentham Invest
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Case Studies

Approaching Retirement - How much can I expect?

We work with -

People who are in their mid to late 50s, married, with children. Directors of UK plc companies who earn approximately £150,000 per annum.

Who -

Have several pensions with previous employments and current employer; have bags and files of pensions that they do not understand.

We help them to -

Know what tax free cash and pension income they can expect to release from these financial resources and how that fits in with their current lifestyle.

A good example is -

Mr C who was aged 56 at the time and was looking to build an extension on his main home and undertake renovation on a property for circa £200,000. He had accumulated six pensions throughout his career and despite being a fully qualified commercial director could not make head or tail of the statements.

The problem was -

They were all written in different formats, with different retirement ages and so on. He thought his maximum tax free lump sum was £153,000 but by taking this he would start an early retirement pension income which he did not want or need. If he died, his wife J, would get £15,600.

We -

Analysed the benefits that could be taken from the existing pension options and compared them with alternative benefits that could be taken elsewhere.

We set out the options of taking the benefit as they are versus taking the benefits using alternative options.

Pensions as they are Alternative
Tax free cash : £153,146 £285,218
Income now: £23,385 per annum £42,782
Income later: £29,934 per annum £59,000 per annum
Death to Spouse: £15,600 £42,782 per annum or £855,658 lump sum
Legacy to Family: Nil £855,658
LTA value: £840,000 £1,280,883 Increased value of £440,883

As a result -

He has a greater cash lump sum £110,000 better off; Pension in retirement £30,000 better off; pension for Spouse £855,000 better off; Legacy for Family £855,000 better off.

A huge 'leg up' on retirement and life goals.

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Tel: 01306 881999
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