Spectrum Advice Network

04/10/2022

𝗠𝗮𝗸𝗶𝗻𝗴 𝘁𝗵𝗲 𝗺𝗼𝘀𝘁 𝗼𝗳 𝘆𝗼𝘂𝗿 𝗣𝗲𝗻𝘀𝗶𝗼𝗻 𝗣𝗼𝘁𝘀…

As time has progressed you may have accumulated a number of workplace pensions and personal pensions. By this stage, you may have been advised to transfer some of these into a personal pension scheme.

You may also have some defined benefit (final salary) pensions about to mature. If this is the case, it’s time to consider whether to transfer these to an income drawdown style of pension or buy an annuity that will give you a guaranteed income for life.

To see how Spectrum could help you https://bit.ly/3bFO4iP

27/09/2022

𝗪𝗵𝗶𝗰𝗵 𝗣𝗲𝗻𝘀𝗶𝗼𝗻 𝗶𝘀 𝗿𝗶𝗴𝗵𝘁 𝗳𝗼𝗿 𝗺𝗲? 🔮

The answer is - they all are. If you’re employed you can pay into a workplace pension. At the same time you will be making National Insurance Contributions via your salary deductions, which go towards your state pension.

If you’re Self-Employed you can set up a personal pension. Any Class 2 National Insurance contributions you make will go towards your state pension.

Anyone can take out a personal pension from the age of 16.

To see how Spectrum could help you https://bit.ly/3fcEi8J

20/09/2022

𝗪𝗵𝗮𝘁 𝗮𝗿𝗲 𝗺𝘆 𝗽𝗲𝗻𝘀𝗶𝗼𝗻 𝗰𝗵𝗼𝗶𝗰𝗲𝘀?

If you have a defined contribution pension, you can withdraw up to a quarter (25%) of the total amount in your pension fund as a tax free lump sum. 🥮

You can then choose to do one of two things with the remaining 75%. Transfer it into an Income Drawdown Pension, or buy an Annuity. 💭

To see how Spectrum Wealth Management could help you https://bit.ly/3uK3FoV

13/09/2022

How do I make my pension work harder… 🤔

When it comes to pension management, many people ask, “how do I make my pensions work harder?”

At Spectrum, we believe knowledge about your retirement savings and how they are managed, gives you the power to make sound choices today that will benefit you tomorrow.

To see how Spectrum could help you https://bit.ly/2RT0FaY

06/09/2022

𝗪𝗵𝗮𝘁 𝗶𝘀 𝗮 𝗖𝗿𝘆𝘀𝘁𝗮𝗹𝗹𝗶𝘀𝗲𝗱 𝗽𝗲𝗻𝘀𝗶𝗼𝗻…? 💭

Crystallising is the process of accessing the funds in your workplace or personal pensions.

To activate the process, you extract the first 25% of the amount you hold in your pension as a tax free lump sum. This first amount is called the ‘Pension Commencement Lump Sum’, or PCLS. 🥮

To see how Spectrum Wealth Management could help you https://bit.ly/2R71ayx

30/08/2022

𝗪𝗵𝗮𝘁 𝗮𝗿𝗲 𝘁𝗵𝗲 𝗮𝗹𝘁𝗲𝗿𝗻𝗮𝘁𝗶𝘃𝗲𝘀 𝘁𝗼 𝗯𝘂𝘆𝗶𝗻𝗴 𝗮𝗻 𝗮𝗻𝗻𝘂𝗶𝘁𝘆?

Annuities are not the only option for income in retirement. You may be recommended:

A pension drawdown product that will give you more flexibility with the amount of money you have access to
To take all your pension as one lump sum to invest
To withdraw smaller lump sums over time
A mixture of options to get the very best of what an annuity and a flexible drawdown pension can give you
To leave your pension where it is and delay using it

If you want to plan for your retirement, contact us today

Purchased life annuity can be bought using the tax-free lump sum you get when your pension becomes available. Call us to discuss the option.

23/08/2022

𝗛𝗼𝘄 𝗰𝗮𝗻 𝗦𝗽𝗲𝗰𝘁𝗿𝘂𝗺 𝗔𝗱𝘃𝗶𝗰𝗲 𝗡𝗲𝘁𝘄𝗼𝗿𝗸 𝗵𝗲𝗹𝗽 𝗺𝗲?

Getting the best out of life involves making financial plans for the future. Growing and protecting your money to achieve all those goals is all part of wealth management.

Our team of expert advisers will help you manage investments and savings, plan for retirement and minimise your tax liabilities.

Find out more: https://spectruman.co.uk/pensions/wealth-management/

16/08/2022

𝗪𝗵𝗮𝘁 𝗶𝘀 𝘄𝗲𝗮𝗹𝘁𝗵 𝗺𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁?

Wealth management is about growing and protecting your money to achieve all your life plans. It could include:

Managing investments and savings
Pensions and retirement advice
Estate and succession planning
Financial planning
Tax advice

The first step in getting wealth management support is building a good relationship. Find out more: https://spectruman.co.uk/pensions/wealth-management/

09/08/2022

𝗪𝗵𝗮𝘁 𝗶𝘀 𝗣𝘂𝗿𝗰𝗵𝗮𝘀𝗲𝗱 𝗟𝗶𝗳𝗲 𝗔𝗻𝗻𝘂𝗶𝘁𝘆?

This type of annuity can be bought using the tax-free lump sum you get when your pension becomes available, or from other money outside your pension pot. One of the key benefits is tax efficiency.

Every payment you receive will include some of the capital you invested, plus interest. Only the interest element is subject to income tax. You can protect the capital element of your annuity so it can be returned to your estate when you die. Choosing the ‘no form of protection’ option, means your invested capital cannot be retrieved.

If you want to plan for your retirement, contact us today

https://spectruman.co.uk/pensions/should-i-opt-for-drawdown-or-annuity/purchased-life-annuity/

02/08/2022

𝗙𝗹𝗲𝘅𝗶-𝗔𝗰𝗰𝗲𝘀𝘀 𝗗𝗿𝗮𝘄𝗱𝗼𝘄𝗻 𝗽𝗲𝗻𝘀𝗶𝗼𝗻𝘀…🤔

Reaching 55 is something worth celebrating because it heralds the time when you get to make some real life-changing financial choices. 💷

To see how Spectrum could help you https://bit.ly/3eELsDA

26/07/2022

Planning on retiring…? 🏖️

Most of us start thinking seriously about when we’d like to retire as we approach our mid-fifties. We’ve worked hard and we’re looking forward to spending quality time during the next phase of our lives.

Today the pensions scene is very different. The state pension age increased further to 66, then 67 for men and women, and is expected to rise again to 68 in 2037.

To see how Spectrum could help you https://bit.ly/3bFO4iP