Agile Financial - Chartered Financial Planner Logo

Approaching Retirement

Flexibility and Freedom


Graham and Jan were referred to Agile by one of our long standing clients. Entering their 50’s, they wanted to discuss a plan for a happy retirement. Having had successful careers they had built up various pension schemes from past employments as well as rental properties.

They wanted to make their retirement more flexible and understand how they could retire. Living their best life whilst younger and more able to enjoy it was important to them. They also wanted to make sure they were well protected in the event of either of their deaths, keeping as much of their capital available for each other and their son.

Our Approach

In our financial life meeting, we discussed how Graham and Jan wanted to live their life over the next few years. It was clear that they wanted a less rigid structure to their retirement. They were not happy with their existing pension schemes as they wouldn’t provide flexible income and capital early retirement, particularly before state pension age.

We reviewed in depth their feelings about how the existing pensions could meet their retirement income needs, before completing a detailed cash flow analysis of their current and future situations. Understanding their attitude towards investment risk was the next key part of the process as this would affect not only their wealth management strategy, but the most suitable choice of access to their pension funds.

The bulk of the work here was understanding Graham and Jan’s cash flow requirements and the amount of guaranteed income they needed. We made clear the risks involved with taking flexible incomes from the various pension schemes held and how this may affect their future. We also had to bear in mind the pension tax legislation, Graham was close to a situation where pension contributions could have caused higher taxes because of the lifetime allowance.

The Outcome

We managed to build a plan that allows flexible access to their pension schemes early in retirement, without the need to pay any further tax. We then put in place an investment strategy for their pensions and investments which included targeted approaches for their short, medium and long term.

In terms of death benefits, we made the full amount available on the death of either partner and to pass on to their son, giving them the peace of mind that their pension values won’t be lost. As well as this, we reviewed their estate planning, wills and power of attorney to give them the peace of mind that their affairs can be managed whatever the future situation.

We speak to Graham and Jan on a regular basis to monitor progress and update the well mapped plan to help them draw down further on their pension schemes as they enter full retirement.  We look forward to helping them enjoy the retirement they have worked hard to achieve.