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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 long term.Read More
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.Read More
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 perfect for people who don’t want to take any risks with their money, and most savings accounts have easy access or are for a fixed term.Read More
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.Read More
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 provide yourself with a secure income for the rest of your life.Read More
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. Read More
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.Read More
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.Read More
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Personal Pensions

Personal Pension Plans

A personal pension plan helps you save money for retirement and is available to any United Kingdom resident who is between the ages of 16 and 75 (Children under 16 cannot start a plan in their own right but a Legal Guardian can start one on their behalf). You, in conjunction with your adviser, choose the pension provider and make the arrangements for paying the contributions to the plan.

You can start a personal pension even if you have a workplace pension or if you’re self-employed and don’t have a workplace pension. You don’t have to be working to take out a Personal Pension Plan and you can also provide a Personal Pension Plan for your spouse/partner or your child/children.

When you contribute to a Personal Pension plan, your money is invested by the pension provider (usually an insurance company) to build up a fund/pension pot over a number of years.

Tax relief

If you’re a basic rate taxpayer, your pension provider will claim back Income Tax at the basic 20 per cent rate on your behalf on the contributions you make and add it to your pension pot. Higher-rate taxpayers claim the additional rebate through their tax returns.

Contribution limits

The Annual allowance (AA) is the most you or your employer can save into your pension pots before you must pay tax. The current total is £60,000* or 100% of your income, whichever is lower as per tax year (6 April to 5 April). If you contribute more than that you will pay a tax charge.

Tax-free cash

Most schemes allow you to withdraw 25% of your fund tax-free from age 55 (57 from April 2028). Subsequent withdrawals are subject to income tax.

The size of your pension pot will depend on:

the amount of money you paid into the plan
the performance of the plan’s investments
charges payable under the plan
advice charges (where applicable)

Taking your pension

Although most personal pension schemes specify an age when you can start withdrawing benefits from your personal pension (usually between 60 and 65) you are allowed to do that from age 55 if you wish. You don’t have to stop work to draw benefits from your plan.

Death Benefits

If you die before the age of 75 and haven’t purchased an annuity, your beneficiaries can inherit the entire pension fund as a lump sum or draw an income from it completely free of tax. If you’re over 75 years of age when you die, there will be a tax to pay on any withdrawals made by the recipient of your fund.

*Tax year 2025/2026

Personal Pension Plans

When you contribute to a Personal Pension plan, your money is invested by the pension provider (usually an insurance company) to build up a fund/pension pot over a number of years.

Tax relief

Contribution limits

Tax-free cash

Most schemes allow you to withdraw 25% of your fund tax-free from age 55 (57 from April 2028). Subsequent withdrawals are subject to income tax.

The size of your pension pot will depend on:

the amount of money you paid into the plan
the performance of the plan’s investments
charges payable under the plan
advice charges (where applicable)

Taking your pension

Death Benefits

*Tax year 2025/2026

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Client Testimonials

I 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

Steve P.
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

Alan C.
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 .

Brenda G.
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.

Reuben B.
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.

Dean B.
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

Mr Barry and Mrs Anna A.
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.

James L.

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Knight Parker Wealth Management LLP
Wynn House
60 High Street
Coleshill
Birmingham, UK.
B46 1AZ
T: 01675 469085
Email Us

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.

Personal Pensions

Personal Pension Plans

Tax relief

Contribution limits

Tax-free cash

Taking your pension

Death Benefits

Personal Pension Plans

Tax relief

Contribution limits

Tax-free cash

Taking your pension

Death Benefits

Client Testimonials

REQUEST A CALL BACK

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