Nearing retirement
A solid plan for your golden years
The light is at the end of the tunnel, and after years of working hard and saving for retirement, you’re on the final stretch.
Why do you need financial advice when you’re nearing retirement?
The last decade before retirement is one of the most important, because small adjustments now can have a major impact on the pot you end up with.
Whether you’re close to your savings goal, have a way to go, or just need to decide how to take your income - the right advice now can make all the difference.
How do I make the final stretch count?
Increase pension contributions
Ramping up your saving can make a big difference. An extra £200/month for 10 years can make a very big difference.
Use tax relief
These extra contributions not only boost your savings, but also reduce your tax bill, making the most of your final earning years.
Top-up gaps
Review your National Insurance record to check if you qualify for the full state pension.
Use carry forward
You may be able to use any unused pension allowances from the past three tax years.
Review your investment mix
Shift gradually from higher risk to lower-risk assets helping to protect what you’ve already built. This is called lifestyling.
The value of an investment with St. James's Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up. You may get back less than you invested.
The levels and bases of taxation and reliefs from taxation can change at any time. The value of any tax relief depends on individual circumstances.
Helping you plan for what’s next
Some of the typical things we help clients nearing retirement with:
Making the most of your final earning years
Adjust to the appropriate level of risk you want to take within your existing pension.
Supplementing your pensions with other tax efficient options
Understanding your options for accessingyour funds
Maximising your state pension entitlement
Combine what you’ve already got
The value of an investment with St. James's Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up. You may get back less than you invested.
Creating your retirement income plan
There’s no one-size-fits-all when it comes to accessing your pension. We’ll guide you through your options:
Tax-Free Cash (TFC) – Take some of your pot tax-free
Drawdown (DD) – Flexible withdrawals to suit your lifestyle
UFPLS – Lump sums with a portion tax-free and the rest taxable
Annuities – Guaranteed income for life (with options to cover your spouse or inflation)
The value of an investment with St. James's Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up. You may get back less than you invested.
The levels and bases of taxation and reliefs from taxation can change at any time. The value of any tax relief depends on individual circumstances.
Advice that evolves with you
We’ll help you move from building wealth to using it wisely, balancing the lifestyle you want now with financial security for the years ahead.
To help make sure your money lasts, we use a clever cashflow forecasting model, updated every year to reflect changes in your life, goals, and your funds. That way, you have a clear picture of where you stand, and what’s possible next.
Why work with Luma?
Cashflow model
A clear picture of your financial future with your cashflow model
Personalised advice
Personalised retirement advice based on your goals and lifestyle
Clear, flexible plans
Clear, flexible plans that help you move confidently into retirement
All-round advice
Help with structuring income, managing risk and reducing tax
Ongoing support
Support and advice right the way through retirement
Meet our people
Meet our people
Our clients are real people, and so are we. Scroll through our team to meet the people who can build your financial plan. Not sure who might fit your requirements? Get in touch
