It is generally accepted that retirement planning is about ensuring that you have sufficient financial resources to enjoy your retirement. Although most attention is placed on the provision of a pension, it is also wise to consider the timing of debt repayment to ensure the majority is repaid before you retire. This is especially important on any mortgage on your home.

It's all to do with calculating your pension requirements and that is where we can help.

Contact us for Pensions Advice

For Pension and Financial Planning Advice please call us on

0800 458 9637

Once we understand your requirements, we will be able to help you find the perfect solution for your unique pension planning requirements, be you someone just starting their working life or someone nearer to retirement.

Advice on how your mortgage and other debts can be scheduled is also available.

So please do call us. However, if you'd rather start the conversation with an email, please use our contact form,
or email us at:- mfaindependent@btinternet.com

All the calls are free as is the initial consultation which is of course carried out without obligation.

Please note, that there may be a fee for mortgage advice. The precise amount will depend upon your circumstances, but we estimate it to be £99.

In line with our innovative customer focused approach, we also have 3 female advisers, with whom some female clients may feel more comfortable.

Over recent years there has been considerable political comment and press coverage regarding the level of the State Retirement Pension. Large numbers of people believe that they will require more money after their retirement than the state pension can offer.

These feelings often lead to people beginning their long term planning with regular contributions into a pension scheme. Pension planning is normally a long-term commitment. The Government is trying to encourage more people to build up a pension fund of their own with the introduction of Stakeholder Pensions and changes to Contracting Out from the State Earnings Related Pensions (SERPS) or the State Second Pension (S2P).

In addition to considering your income in retirement, you may wish to consider provision of Health cover, or perhaps plan for how you are going to provide for your dependents.

You may even want to think about planning the effects of Inheritance Tax on your Estate and consider whether it would be wise to transfer a portion of your current assets to your children or grandchildren.

Tax Planning and the Financial Planning of Your Pension.

Pension funds in the UK benefit from significant tax incentives. These include allowing for any growth in the value of the pension fund to be free of tax. Also, the current rules provide that a portion of the pension fund may be drawn in the form of a tax-free lump sum. Additionally, any contributions made to the pension fund by either you, or your employer, will qualify for tax relief.

Those people who pay income tax at the basic rate (22% for the tax year 2007/08) will receive tax relief at this rate reducing the real cost of any pension contribution (e.g. a £100 contribution will actually cost you £78 due to the tax relief available). Where contributions are made to Stakeholder or Personal Pension plans the tax relief is granted at source, meaning that you actually pay the net amount due, and the pension company reclaims the amount available in tax relief directly from the HM Revenue & Customs. Tax relief up to 40% is available for those people that are liable to pay income tax at the higher rate. Those with Stakeholder or Personal Pensions must claim their additional tax relief from the HM Revenue & Customs this can be done via the annual tax return.

If you are less certain about the timing of your retirement, you may wish to consider savings using products other than Pension Plans, then you may find the tax efficiency of ISA's very attractive. Savings into Unit Trusts/OEICS or Shares can be very tax efficient for those people who make proper use of the exemptions available under the current rules of Capital Gains Tax. This may be an area where you wish to seek advice from us.

Savings into share based assets such as unit trusts/OEICS or stocks and shares ISA's are normally considered to be most suitable for those people who wish to save for the medium to long term.