Retirement planning

A plan for retirement planning is about more than simply saving as much as possible for the future via a pension scheme. It needs to be viewed in a structured way, with individuals considering the following:

 

  • What do you want in retirement, and how much will your retirement cost?
  • Can you afford to stop working now?
  • Will your current pension strategy help you to achieve your goals?
  • Are you clear about your financial strategy after you actually retire?
  • Do you know how to quantify your future lifestyle goals?

CPAS advises employers to hold regular pension updates for their staff. This can be facilitated via toolbox talks or staff addresses. If this does not work for your business, CPAS can provide access to company specific videos. There are member portals for members of both CWPS and CERS.  By logging into these portals, members have access to their fund values and retirement calculators. This allows members to stay informed on their retirement journey and take control of their financial future.

Individuals who want more control can engage with Milestone Advisory on a personal basis. 

Milestone Advisory will help you to:

  • Establish how much income you are likely to require in your retirement in real terms.
  • Determine the amount of annual or monthly retirement income your assets should provide, compared with your retirement income goals.
  • Put a structured and suitable plan in place to address any potential shortfall in your desired retirement income, while maximising tax reliefs available.
  • Maximise your tax-free lump sum.
  • Choose the appropriate retirement vehicle: ARF Vs Annuity

Set retirement income goals

Milestone Advisory can build up a full picture of an individuals desired outcomes and help set retirement income goals.

Once a plan is in place, we then set you on a path with annual reviews that include revisions – because no future is set in stone.  As your goals change, so will your plan. Milestone Advisory will work with you to ensure that you achieve the best financial outcomes for your future.

Ready to design a pension scheme?

Join over 3,000+ employers already working with CPAS.