Every Step Financial Services

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Pension Planning

Pension Planning

How We
Can Help

At Every Step Financial Services, we understand that when it comes to your finances, it’s important to take a holistic approach. That’s why our experts take into account all of your needs and goals when crafting a financial plan for you. We want to make sure that all your bases are covered and that you are on track to reaching your targets.

Live The Life You Want In Retirement

Grow and preserve your finances with expert advice

There’s a lot to think about when it comes to retirement planning. But one of the best things you can do is to work with an independent financial adviser. They can help you answer key questions, like whether you’re on track for retirement and how long your money will last. Having a retirement plan in place can help take away a lot of the uncertainty.

Retirement planning is important for ensuring you will be able to live comfortably in retirement. When thinking about retirement, it is helpful to consider what your goals are and what steps you need to take to achieve them. Our retirement planning advice is tailored to your individual needs and can help you discover your goals and the best steps to achieving them.

Can I Afford To Retire

It’s important to understand your financial situation before making any decisions. You need to know how much money you have and how much you’ll need in order to understand your options.

There are a few different ways that your retirement income can come from, like from your savings in a pension or from an Individual Savings Account (ISA). If you have property that you rent out, that can also be a source of income. And if you haven’t considered all these things yet, that’s okay! We can help you figure it all out.

“Retire from work, but not from life.”

plan of action

know your rights

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One step ahead

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building your case

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achieving your goals

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“Often when you think you’re at the end of something, you’re at the beginning of something else.”

our professional services Include:

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What you can expect from our Pension Planning Advice.

Pension F.A.Q's

There are two main types of pension schemes in the UK. These are:

  • Defined benefit schemes pay a promised pension which is based on factors such as salary and length of service. A sponsor, which is usually an employer, guarantees the promised benefits are paid. The pension provides an income for life and may also include a retirement lump sum.
  • Defined contribution schemes do not provide a guaranteed pension and instead provide a pot of money which can be used in retirement. The value of the pension pot can increase or decrease depending on factors, including investment returns and contributions made.

A third type of scheme, collective defined contribution, was introduced by the Pension Schemes Act 2021.

Regulation can vary depending on the type of pension scheme or the type of service provided to a scheme or saver.

Pension schemes are either regulated by the Pensions Regulator which regulates occupational pensions, including employer compliance with auto-enrolment duties, or the Financial Conduct Authority which regulates financial services firms and financial markets in the UK. Trust-based pension schemes are regulated by the Pensions Regulator and contract-based schemes by the Financial Conduct Authority.

Complaints about pensions can be received by many bodies including the courts.

MoneyHelper produces a guide dealing with pension problems and making a complaint which provides information on the organisations people can complain to.

In the UK, private pension saving is taxed on an “exempt, exempt, taxed” model (EET). This means:

lifetime allowance is the amount which someone can usually build up in pension pots without paying tax. The Finance Act 2021 froze the lifetime allowance at its current level of £1,073,000 until April 2026.

In any given tax year, a person can save the lower of 100% of their annual earnings or the annual allowance into a pension without paying tax. Someone earning less that £3,600 a year can receive relief on contributions