Simplifying Pensions Simplification

29th May 2018


We were introduced to Jim aged 73. A retired Medical Practitioner who was referred to us by one of our accountancy connections

Client Concerns & Immediate Issues

  • Had taken retirement from the NHS Superannuation age 65 in 2004
  • Current Pension is £67,000 per annum
  • Wanted to take the benefits of a small personal pension which was funded by his private work

Our Initial Recommendations & Action

  • Understand that Jim has not yet been tested against the lifetime allowance
  • £67,000pa multiplied by 25 is £1,675,000 against the current lifetime allowance of £1 million
  • Carried out a comprehensive review of their existing portfolio of investments

The Results so far

  • Understand the implications of the lifetime allowance when he wants to take the pension or when he reaches age 75
  • Discuss the options of applying for any relevant protections that would be available to him
  • Agree a plan of action


Please Note: This document is provided as a working example and for information purposes only this should not be taken as financial or investment advice.