What's new in Retirement Planning
Life accelerates as the years pass – it’s no joke. Hit 50 and whoosh, 60 is knocking on the door!…
Many of us are looking down the barrel of our ‘normal retirement age’ being 67. A chilling thought. One that…
How doctors and dentists view and use their pensions has changed since ‘Pension Freedoms’ came into being in March 2015….
Are you desperately trying to save for your first home or, at the other end of the spectrum, so that…
If you’re a shareholder of a private limited company, can you spread the dividends paid out amongst more of your…
The Chancellor’s Budget U-turn on pension tax relief changes wasn’t the only surprise he had up his sleeve; he also…
We have cut through the swathes of Budget 2016 articles to bring you a short update on the matters that…
Apparently we’re living longer but not necessarily enjoying good health in old age. Pension schemes, including the NHS Pension Scheme,…
Financially plan your retirement with Legal & Medical
Many medical professionals believe that their NHS Pension is the solution to all their pension requirements. Whilst the NHS Pension Scheme certainly forms the backbone of our clients’ retirement plans, supplementary planning may well be required, particularly in light of new changes. It can also have huge tax advantages.
As pension specialists to doctors and dentists, we have in-depth knowledge and a wealth of experience in advising medical and dental professionals on:
NHS Pension Scheme
The NHS Pension Scheme provides a tax free lump sum and an index-linked pension that is service related. It also has a number of other benefits, including pensions for surviving partners, death in service benefits, allowances for dependent children and ill-health retirement. Find out more
A personal pension is a highly tax efficient savings vehicle to provide you with a regular income in your retirement.
SIPPS (Self-Invested Personal Pensions)
SIPPs are personal pension wrappers that offer more freedom of choice than conventional personal pensions. They allow you to choose your own investments or to appoint an investment manager to look after your portfolio on your behalf.
Drawing Your Pension Benefits
There are various ways of taking an income from your pension, including annuities and various drawdown options.
How we can help you
It’s not easy getting your head around what your pension options are, what you can and cannot do, the amount you can put into your pension each year, and how that translates to the age you can retire with what income.
At Legal & Medical, we explain (in plain English) the choices you, as a doctor or dentist, specifically have; how changes in NHS pension policy and government legislation have affected your pension and retirement plans; and the best route to maximise your income in retirement.
Get in touch to find out more