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Pension Advice. Your retirement matters

We’ll help you arrange financial security for later life so book your fee free pension consultation over the phone or in your home and we’ll call you back.

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Let's start at the beginning what exactly is a pension?

What it does for you

A pension is a tax-efficient way to put money aside for later in life, to provide income for when you retire. When you reach age 55 you can take the money from your pension.

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Why you might need it

A pension is money you’ll use to live on when you retire. Most people get a State Pension from the government, which covers your basic needs.

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How does a pension work?

The basic pension options are usually fairly consistent across all types of pension:

You and / or someone else (for example, your employer if it’s a workplace pension) pay into your pension.
The government applies tax relief to the pension contributions you make.
Ideally, your pension pot grows as you pay into it and the value of your investments rises. Of course, the value of your investments can fall too, so in challenging times your pot could shrink rather than grow.

Currently from the age 55 you can access your pension. Usually you can take up to 25% as a tax free lump sum. Then you have to decide what you want to do with the rest, whether that’s starting to withdraw some or all of the money, or keep paying in. We’ll simplify and explain all this to you during your consultation.

Why would I use a pension advisor

Flexible Pension Advice
Expert pension advice 7 days a week from 8am to 8pm from the comfort of your own home
Completely Risk Free
Our pension advisors can offer you a free no-obligation tailor made consultation today
Minimal paperwork for you
We’ll help with the application so your pension goes as smoothly and quickly as possible.
Peace of mind
By using our pension advisor you get expert help, you’ll know you’re doing it right

What types of pension can I get?

You can get up to three different types of pension, depending on your personal circumstances.

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Employers arrange these pensions for their employees. In most cases, both you and your current employer will contribute to your workplace pension. A percentage of your earnings may be paid into your retirement plan by your employer and you, unless you have opted out. The two different types of workplace pension are:

Defined contribution where the pension pot is based on the amount you pay in, and the performance of the investments..
Defined benefit (or 'final salary') where you'll get a set income based on your salary and how long you've worked for your employer.

If you’re in employment and eligible you probably already have a workplace pension. If you’re not sure, speak to your companies HR team if they have one.

When you reach State Pension age, the government pays you the standard pension. You must have reached state pension age and contributed to National Insurance (NI) for at least 10 years in order to qualify for the UK State Pension. A person must have paid 35 years of NI contributions to receive the full State Pension.

A personal or private pension is one you set up and pay into yourself. You can decide how much you want to contribute to a personal pension and how you want to invest your savings. If you already have a workplace pension, you can also have a personal pension. A personal pension can help you save for retirement if you’re self-employed.

Why should I choose GHL Direct pension advice

We'll make sure you are getting the right pension advice

If you’d like to explore the specific options for your circumstances, or simply check if you have the right pension plan in place, please get in touch for your free no obligation chat.

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Next steps

We hope our page has given you a small insight into pension planning. To explore the specific options for your circumstances, please get in touch for your fee free chat today.

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Our expert life pension advisors are here to guide you through the entire process from start to finish.
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