'Pension advice' could be the most important couple of words you read today

Pension advice. That may not set your heart racing, but the things that your pension can get you, with the right advice, could be life-changing.

Making stronger plans now might set you on course to a better future.

So instead of thinking about the thrilling world of pension products, think about your retirement and work backwards. How do you want to spend those days? Everyone is different, and every ideal scenario needs a slightly different approach.

Once you've got an idea, a little pension advice could be how we help you with your plans. With the right plan and execution, so much is possible.

Pensions Explained

There are lots of reasons why you should get excited about your pension. It’s one of the best ways to save for retirement and it could offer many valuable benefits. Our short video explains pensions in more detail, and how you could boost your own pension pot.

Is my pension working hard enough?

Your pension is probably the biggest investment you’ll ever make. So how can you be sure you’re making the most of it? Skipton’s experts share their insights and tips on making plans for retirement.

Listen now

Do you even need pension advice?

Plenty of people started pensions without ever having a chat with someone. And even if you're one of the ones who did, your circumstances have probably changed a bit.

Almost everyone can benefit from an initial discussion. Even if it's just to tell you that you're on the right track, and your pension is all set to deliver the future you're looking forward to.

Maybe you are in, or near retirement and want to maximise what you will end up with.

Or maybe you've found yourself with a few different pensions after moving jobs, and you don't know if you should put all of those in one place, or keep them separate.

Perhaps you have new ideas as to how you want to spend your retirement, and need to change your pension plans too.

Why is personalised advice such a big deal?

In this business, you get to see some really individual retirements come to fruition. Customised camper vans headed to New Zealand, pilgrimages to pyramids, and private studios to relax and paint.

The tricky thing? Pensions can be just as quirky and personal as any of those things. And much less fun.

The crucial thing is to have a smart strategy. For instance, taking too much of your pension quickly could leave your pot too low later on. It might mean you’re paying out much more than you need to in tax. Especially if you’re still working when the pension starts to pay out. That’s where we come in. We could discuss your current retirement strategy and see if there are any other areas for you to consider to help you get the most out of your pension pot.

You’ve got a lot of variables to think about:

  • type of pension: state, defined contribution or defined benefit
  • the pot you need to build
  • the risks you’re comfortable taking
  • which allowances you can take advantage of
  • ways to protect it from tax
  • ways you can access the funds
  • other types of investment that might be better for you
  • how to best invest pension funds

Good pension advice takes all of those into consideration, and gives you a simple roadmap towards your retirement.

Hold the phone! You offer pension advice?!

I thought we were being so subtle.

Yes, at Skipton Building Society we’ve offered a financial planning service for over 30 years. It’s why we’ve got so many useful tips, and so many success stories that make us glad to turn up to work.

We offer financial advice to anyone with £20,000 or more to invest, or to people who are able to make monthly contributions of £500 or more. Where you require advice on existing investments/pensions the minimum value required, including the investments/pensions under review, is £50,000.

Our financial advice team are dedicated to helping you plan your future by providing solutions that suit your circumstances.

Gareth Smith, Skipton Retirement Solutions Manager

If you’ve read this far, we’ve hopefully struck a chord

You’ve got some plans for your future. If you think we could help you get there, or just have some early questions, call 0800 731 5342 for a free initial chat or drop into a branch.

If you don’t need a chat just yet, we’d recommend signing up to our newsletter. You’ll find plenty of useful information so that you feel equipped by the time you feel like taking things further.

No spam, just sense.

Important information

A pension is a long-term investment and your capital is at risk. When investing, your fund value can go down as well as up and you could get back less than you paid in. The tax treatment of pensions and investments is dependent on your personal circumstances and prevailing legislation which may change in the future. Your eventual income will depend upon factors such as the size of your fund at retirement, future interest rates and tax legislation. There are tax considerations when withdrawing your pension as lump sum or income. You should seek financial advice before making any decisions.

Get in touch

For more information on our service and to find out whether you could benefit from financial advice, call our specialist team today for a free initial consultation.

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