Client Situation:

Mr D approached us in 2016 in respect of his retirement planning. He wished to finish work and retire ahead of his State pension age and had five pension plans through schemes set up both by himself and through previous employers. His wife had already reached the State pension age and was in receipt of a small company pension.

Client Objectives and Needs:

Mr D required advice on his retirement options, an assessment of whether or not he would be able to afford to retire ahead of State pension age, as well as advice on what to do in respect of his various pension plans and his options for producing income from the plans in order to provide the necessary level of income he required in retirement.

Actions Taken:

After an initial meeting, when we obtained full details of his financial situation as well as details of the individual pension plans that he had, we provided him with a retirement planning report, which included a cash flow forecast which gave both him and his wife a clear picture of what his retirement would look like financially, as well as providing him with options as to how to produce income from his pensions to enable them to make an informed decision as to how they wish to proceed.


In respect of his pensions (taking into account the level of income required and the income they would receive from their State pensions and also Mrs D’s company pension) it was clear that they would have sufficient for their needs and so the four individual pension plans were consolidated into a new pension, from which tax-free cash was taken, with the remaining funds invested in line with Mr D’s attitude to risk, with the objective of growth in order to provide income later in retirement as required possibly for long term care fees, but ultimately to be passed on to their children upon their deaths.


As a result of our advice, Mr D was clear he could afford to retire immediately – which he did! With his pensions consolidated into one arrangement that is easily monitored and reviewed regularly, we assisted Mr D in having a comfortable retirement, with the added peace of mind in knowing that his, and his family’s financial situation was secured.