The retirement planning myths

Posted on February 7th, 2011 | Categories - Pensions

Imagine the scene.

You’ve saved hard for your retirement, perhaps you have been disappointed with how your pension has performed over the recent years and often thought about whether you are doing the right thing.

You have now reached a stage in your life where you need to create an income from your pension, but how do you do this? Is a Lifetime Annuity the best route, should you be considering Income Drawdown?

It certainly can be a confusing time.

We want to ensure that our clients make the best possible decisions when converting their pension into an income. We thought we would try and make things a little easier by dealing head on with some of the more popular retirement planning myths:

“I’ve had my pension with them for years, they have done great for me, surely they must offer the best Annuity”

“I’m better buying an Annuity without taking advice, the commission will make the IFA biased and will reduce the income I get”

“My pension is small, I have to buy an Annuity and it really isn’t worth shopping about for a fund my size”

Click here to read why believing in these myths can be dangerous for your retirement planning.