Statistics show that the over 50s currently make up 31% of the entire UK workforce, a large increase from the early 1990s, when this figure was around 21%. Put into perspective, that's over 10 million people, currently working up to retirement.* With such a high percentage of the working population currently on the countdown to retirement, it follows that a significant number of UK businesses currently employ staff in this position.
All employers now have to provide a workplace pension for eligible staff and it is fair to say that a significant number of individuals who are nearing retirement may have accumulated a number of different pension plans, from a variety of employers throughout the course of their working life. Many of these individuals may have not taken any advice to ensure that those pension plans are fully optimised as they reach retirement age. They could be significantly prejudicing their finances during retirement by not taking advice.
Shorts' Wealth Management team offers all employers the opportunity to support these employees as they approach their retirement. By offering a free consultation to anyone in this position, Shorts will help to make sense of all those pensions, and help those individuals plan for their retirement; all at no cost or inconvenience to the business.
There have been many changes over the years affecting pensions and the way in which they can be taken, which underlines the importance of reviewing those arrangements as soon as possible, and planning carefully.
So, any business who would like to take the opportunity to provide their employees with a free retirement consultation are invited to contact a member of our team on 0114 2671617 or 01246 559955. Our advisers are all Chartered individuals in their own right and they are supported by a dedicated and experienced team of highly qualified staff.
* Figures quoted from the Office of National Statistics
Simon Hollin
Simon joined Shorts in 1997 to assist in the development and growth of the financial services arm of the firm. Simon’s work involves providing clients with tailor-made and objective independent financial advice and he works closely with them to produce personal investment strategies based on their requirements. Simon also provides advice on investments which aim to minimise inheritance tax and helps individuals effectively plan for their retirement.
View my articlesTags: Private Client, Wealth Management
