Already retired
Your brighter future is here
Retirement planning doesn't stop as soon as you retire. You might have 25 years or more ahead of you. In that time, your needs can change - your financial plans need to change with them.
We all want to enjoy ourselves in retirement. To do all the things we put off because we were working and couldn’t find the time. But it’s not a time to rest on your laurels and let your financial plans stand still.
You’ve probably bought an annuity so your pension fund is accounted for. But if you have other investments are they producing the returns you need? And have you thought about passing on your wealth to your family in the most tax efficient way?
If you used your pension fund to buy an annuity, that’s fine – you don’t need to make any more decisions there.
If you chose income drawdown, you need to keep an eye on how your pension fund is performing and annuity rates, to make sure you’re still making the best choice.
Savings and investments
The interest from fixed term savings and investment bonds can be a useful way to supplement your pension income. NatWest usually has a range of fixed term bonds available with terms up to five years. Some of our bonds offer at least a return of capital at the end of the term. That way you’ll not be reducing your retirement pot.
None of us want to give the taxman more than we have to. But without proper planning, it’s possible that some of your estate will be eaten up by taxes when you die.
In 2010/11 inheritance tax is charged at up to 40 percent on the value of an estate in excess of £325,000. When you consider the value of your home and your savings, it’s easy to see why so many people could be affected by this tax.
Fortunately there are steps you can take to minimise any tax liability you may have. There are also protection plans you can take out to meet an inheritance tax liability on your death.
NatWest’s inheritance and tax planning service can help you make plans that remove the worry of inheritance tax.
Life assurance
Straightforward cover to pay your Inheritance Tax liability or take care of your funeral expenses.
Common questions
Some of the questions we’re most often asked about retirement are answered here.
Get in touch
We’re here to help you cut through the complexities of retirement.
Contact us today for an appointment with one of our Financial Planning Managers.
Call us on
0800 051 1868*
*Minicom 0800 404 6161. Lines are open: Mon to Thurs 8am-8pm, Fri 8am-6pm,
Sat 9am-5pm (excl. public holidays).
Calls may be recorded
Glossary
Still struggling with retirement planning jargon? Check out those tricky terms with our glossary.