Pension Planning Services

We are here to help you achieve your retirement goals with expert pension planning and outlining how much you should be saving to get the best possible income in retirement.

Great planning allows you to maximise your financial position in retirement and to help you achieve the retirement lifestyle you want. Your planning needs to be reviewed and adjusted throughout your working life and beyond, as your personal and family needs will change and evolve many times.

The general principle is the more you save into your pension(s) the bigger your pot, and the younger you start the more you will benefit from the compound growth effect of your pension investments.

Our Pension Planning Service

Nigel Swan, Regional Director & Head of Pensions

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How much money do you need to retire at 60?

We are often asked this question and as a general rule of thumb you need 20 – 25 times your retirement expenses. So, if you spend £30,000 per year, you’ll need £600,000 – £750,000 in pensions, investments and savings to be able to retire.

Another top tip is that you should save 12.5 per cent of your monthly salary.

Try our handy calculator to help you understand the level of contributions you need to be making.

Retirement income

The most important question of all is are my pensions going to give me the income I want, when I want it? There are many statistics online to show you the average pot on retirement, what the State Pension will provide and what level of income this will deliver.

Cash flow forecasting

Our Advisors use sophisticated software to plot your own pension and retirement journey, showing you how much you have saved, how much more you need to save (be it pensions, ISA’s, other forms of savings or investments etc) and your income and expenditure needs.

Your Advisor will work with you to create an interactive model which will be reviewed and adjusted with each change in your circumstances.

Read more about managing cashflow in retirement.

Download our Pension Planning Guide

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Pension investment and risk management strategy advice

Pensions are long-term saving vehicles but choosing the right one can be difficult. There are more than 40,000 regulated funds on the market and each has its own risk level and investment strategy. Financial Advisors can help you select the right type of scheme for your goals and circumstances and can give you confidence your pension is invested properly and monitored by an expert.

Pension consolidation

On average people have 11 jobs in their lifetime and that could mean a different company scheme for each one. This can make it hard to track where your retirement savings are.

An Advisor may recommend combining multiple pots to make them easier to manage, providing it will not result in you losing any valuable benefits. They will also be able to help you avoid any unexpected charges, choose tax efficient options and an investment strategy in line with your attitude to risk.

Read more on why you might want to consolidate your pensions.

Pension Reviews

“Ellis Bates have been managing my pension for a couple of years now and throughout this time I have found them totally professional, responsive and trustworthy.”

“I was very confused about my pensions when I retired recently, and I contacted Ellis Bates who were recommended by the Pension Advisory Service, they have been very helpful in the amalgamation of my Pensions into a more simplified drawdown pension. Carol Lammy-Steele has been very professional and helpful during the process and always there any time of the day to give advice, would recommend her to anyone who needs help with financial questions.”

Read more of our reviews

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