Put simply, the goal of pre-retirement pension planning is to reflect on what you wish to be doing when your working life comes to an end. You may have a pension in place already, but a pre-retirement policy can serve as an extra injection of capital when you need it most.
As we get older, our take on life changes. We start planning for the next stage of our lives, start thinking about the things we want to be doing. This is where a pre-retirement pension can make a real difference, providing you with access to funds before you retire.
Perhaps you have decided that you would like to move house, or country, indulge in some travelling or help out grown up kids. Our Eclipse advisors are great at listening. You tell us what you want to achieve and we will advise you on how best to do it.
There are a range of pre-retirement options available, which we will happily talk you through:
A Personal Pension Plan (PPP) builds a capital sum through investments that carries tax privileges, providing a good balance between premium and availability of funds.
A Stakeholder Pension (STH) scheme is one in which you pay money to a pension provider, such as a bank or insurance company, the advantage being that contributions are low and flexible.
A Self-Invested Personal Pension (SIPP) is a UK government approved pension scheme, provides more individual say allowing for a greater range of investments, including property and equities.
A Small Self-Administered Scheme (SSAS) is an option for business owners, offering a wide range of investments and can be set up by employers to provide for company directors.
A Group Personal Pension (GPP) planis popular with employers as it offers employees the opportunity to contribute to a defined-contribution scheme, allowing them to accrue a personal fund for retirement.
An Executive Pension Plan (EPP) is popular with directors and senior employees of a company, as it is a tax efficient scheme that allows for investments over a wider area, including shares and property.