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(From April 2015, the rules involving annuities and income drawdown changed. Rather than having to purchase an annuity, pension savers can, if they wish, withdraw as much as they wish from their pension pots. In total, 25% of the pension pot can be taken free of tax; the balance being subject to income tax. Although this change may make annuities less attractive for some, many still prefer the security of knowing they have a guaranteed and secure income for life.)
An annuity is a contract between an insurance company and a pension scheme member, where the member uses some or all of their pension savings to purchase a regular and guaranteed income for the rest of his or her life or for a predetermined number of years.
The factors that determine the amount of income you can expect to receive include (but are not limited to) your age, state of health, your postcode, prevailing annuity rates, the type of annuity you buy and the size of your pension fund.
Depending on your circumstances and requirements, some annuities may be more suitable for you than others. We are here to assist and to ensure that you purchase the annuity that best suits your needs and circumstances.
If you do decide to buy an annuity upon retirement, you should ensure that you check policies, rates, restrictions, and benefits very carefully, and if necessary seek advice from a financial adviser. Investing in the wrong annuity scheme could cost you a great deal in annual income, so make sure that you look into this subject carefully before you make any commitment.
The value of pensions and the income they produce can fall as well as rise. You may get back less than you invested.
Tax treatment varies according to individual circumstances and is subject to change.
Read lessI have always found pensions to be very confusing. David Knight however has made things a lot clearer he explains things thoroughly and now provides me with expert professional pensions advice. I have been very happy with the service provided. Communication is very good, he is approachable and I feel in safe hands
Kevin has been dealing with my finances for a number of years now, I have always found him honest and trustworthy and true to his word. He has helped me greatly with my pensions and continues to do so. I would freely recommend Kevin's services, and often do so to my clients and friends and family
Kevin has been my financial adviser for almost 12 years. I trust him implicitly. He has always guided me through the various investment options . Whilst he has been mindful of my reluctance to take risks financially he has encouraged me to take measured steps in order to maximise my savings. His advice and guidance has proved to be very advantageous. At our meetings he has always been well prepared and willing to answer my questions .
My business partner and I were looking for solid Financial advice on future pension and Property investments. Kevin has managed our situation exceptionally and has always been willing to give good advice. He has always been able to explain the investment process to us so that we understand it and know what the pros and cons are with each investment. With regards to the current financial climate we have had to chop and change the way in which we have looked at our investment and Kevin has played a crucial role in helping us reach the most sensible and essentially profitable solution.
Knight Parker have provided me with expert financial advice in respect of my pensions for three years. They are knowledgeable, information is timely and they have enabled me to make very good investment decisions.
My husband and I recently decided to retire and therefore needed to get expert advice regarding our pensions. We found that Dave was very friendly and offered a very professional service. His advice was so easy to understand and took away the complicated wording that you often come across when dealing with pensions. Hence our pensions were dealt with, without any effort on our part. Would definitely recommend David Knight
I am extremely happy with the service I receive from David. He presents things in a detailed but understandable way and is always on hand to to answer my questions and queries.
Professional Financial Planning is the process which aims to help you realise your ambitions - whatever they may be. As professional financial advisers we can help you make informed decisions about your financial future, short, medium and l
Wealth, just like your health, must be carefully preserved. Your assets need to be protected against the potential threats of erosion by taxation, the effects of inflation and investment risks.
Often, people save for a specific reason and it's usually the safest way to build up a pot of money. It’s less risky than investing, but it offers limited growth. The most you'll earn on the money you save is the interest added. Saving is
When you retire you still need food and shelter as an absolute minimum, but of course you will want to maintain the lifestyle to which you have become accustomed, so unless you can guarantee a large inheritance or windfall, then you need to
Equity release has to fit with your needs, circumstances and preferences, where the benefits need to outweigh the drawbacks and be more suitable than alternative methods of raising funds.
Taxation can be very complicated and the rules, reliefs and allowances often change, so it is worth obtaining a clear grasp of how these taxes work by discussing with a professional adviser the most efficient way to arrange your finances.
Mortgages are loans which are intended to help buyers purchase residential and commercial property. When an individual takes out a loan, the lender charges interest: the same is true of a mortgage.
Health Insurance is probably one of the most important types of insurance you can own. Without it, an illness or accident can have serious long-term financial implications for you and your family.
All businesses are exposed to risks in their day-to-day operations. Without business insurance cover to provide protection against some of these risks, businesses would find it difficult to operate efficiently and profitably.
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Knight Parker Wealth Management LLP
Wynn House
60 High Street
Coleshill
Birmingham, UK.
B46 1AZ
T: 01675 469085
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Knight Parker Wealth Management LLP is registered in England and Wales, Company Number: OC385181. Registered Address: Wynn House 60 High Street, Coleshill, Birmingham, England, B46 1AZ.
Knight Parker Wealth Management LLP is an appointed representative of Quilter Financial Services Limited and Quilter Mortgage Planning Limited which are authorised and regulated by the Financial Conduct Authority.
The guidance and/or information contained within this website is subject to the UK regulatory regime, and is therefore targeted at consumers based in the UK.
Approver Quilter Financial Services Limited and Quilter Mortgage Planning Limited 02/10/2024.
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