Retirement Planning
Structured, tax-efficient retirement planning designed to help you build, protect, and enjoy your wealth with confidence.
Overview...
When it comes to preparing for retirement, it is never too early or too late to start planning. Whether you are still building pension pots, approaching retirement, or already drawing income, having a clear strategy ensures you can live the life you want for as long as you need.
Our role is to help you understand your full financial position, how much income you will need, how your pensions and investments support that goal, and how to structure withdrawals in a sustainable, tax efficient way.
The UK pension landscape has evolved significantly, from the introduction of personal pensions in the 1980s to the Pension Freedoms Act of 2015. Today, individuals have far greater flexibility in how and when they can access their retirement savings, but with that freedom comes the need for careful planning.
We will help you trace, review, and consolidate pensions across different providers where suitable, ensuring your arrangements remain efficient and aligned with your goals. Through detailed cash flow modelling, we show how your pensions can sustain your desired lifestyle and highlight any adjustments needed to stay on track.
Why it matters
A well structured pension plan is the cornerstone of financial independence in later life. With people living longer and relying less on state provision, planning early and reviewing regularly is essential to maintain comfort and control in retirement.
Many underestimate how complex pensions have become. With multiple workplace schemes, personal pensions, and evolving rules around allowances and withdrawals, it is easy for opportunities to be missed or for valuable benefits to be left unused. Effective pension planning helps you bring everything together under one clear strategy.
Beyond building wealth, it is about flexibility and choice. Being able to retire when you want, reduce working hours on your terms, and sustain your preferred lifestyle without financial strain. By aligning pension structures with your wider savings, investments, and estate plans, you can enjoy the rewards of your hard work with clarity, tax efficiency, and peace of mind.
The Planning Opportunity
The good news is that with the right strategy, retirement can offer more freedom and flexibility than ever before. There is no single one size fits all approach. Effective outcomes come from blending the right combination of pensions, investments, and income options to suit your lifestyle and long term goals.
At Sterling Ridge Wealth, we start by gaining a clear understanding of your financial position, retirement aspirations, and attitude to risk. From there, we assess existing pensions and savings, identify opportunities for tax efficiency, and design a personalised strategy that ensures your income and assets work together sustainably.
This may include pension consolidation, drawdown planning, annuity options, investment reviews, and cash flow forecasting, all structured to help you retire on your terms while maintaining flexibility and control.
Our role is to simplify complexity, coordinating your pensions, savings, and estate planning into one coherent, practical roadmap. We review your plan regularly to ensure it stays effective as legislation, markets, and personal circumstances evolve.
The result is a well structured retirement plan that not only provides financial security and tax efficiency, but also delivers long term clarity, confidence, and peace of mind for you and your family.
Key Considerations:
Understanding the key allowances and options available is essential to making the most of your pension benefits.
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Annual Allowance: You can contribute up to £60,000 per tax year across all pensions (or 100% of earnings, if lower). Higher earners may be subject to a tapered allowance.
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Carry Forward: Unused allowances from the previous three tax years can be utilised to boost pension contributions.
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Tax-Free Lump Sum: Usually up to 25% of your pension can be taken tax-free (subject to limits).
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Income Options: Choose from drawdown, annuity, or lump-sum withdrawals (UFPLS) depending on flexibility and risk preference.
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State Pension: The current full new State Pension (2024/25) is £221.20 per week, payable from State Pension age (currently 66, rising to 67).
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Lifetime Allowance: Abolished from April 2024, though tax-free lump sum limits remain.
What we do
Pre-Retirement
The years leading up to retirement are critical for maximising contributions, aligning investment strategy, and ensuring your future income goals stay on track. Effective pre-retirement planning builds the foundation for a confident, flexible retirement.
Key strategies include:
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Maximising Contributions: Making full use of annual and carry-forward allowances (£60,000 per year, or 100% of earnings if lower).
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Tax-Efficient Saving: Claiming higher-rate relief and considering salary sacrifice or employer-matched contributions.
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Investment Alignment: Regularly reviewing risk levels, fund performance, and diversification as retirement nears.
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Pension Consolidation: Streamlining multiple workplace and personal pensions for clarity and cost efficiency.
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Cashflow Modelling: Using lifetime cashflow projections to test “what-if” scenarios and ensure your contributions and investments meet your future lifestyle needs.
At Sterling Ridge Wealth, we help clients plan ahead by modelling their financial trajectory, illustrating how today’s saving and investment decisions translate into tomorrow’s retirement income.
In Retirement
After retirement, your priorities often evolve, from income generation to capital preservation, legacy planning, and tax efficiency. Continued oversight ensures your retirement plan adapts to changing circumstances.
Ongoing strategies include:
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Income Sustainability: Reviewing drawdown levels to maintain a consistent lifestyle without eroding capital too quickly.
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Tax-Efficient Withdrawals: Coordinating income from pensions, ISAs, and other investments to minimise tax exposure.
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Investment Oversight: Adjusting portfolios to balance growth, income, and capital protection as time horizons shorten.
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Estate & Legacy Planning: Ensuring unused pension funds are nominated correctly to pass free of Inheritance Tax.
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Cashflow Modelling Reviews: Updating your plan annually to reflect market changes, inflation, and evolving family goals.
At Sterling Ridge Wealth, we see retirement not as a single event but a lifelong process. Our ongoing advice helps clients preserve wealth, enjoy their retirement years confidently, and leave a lasting legacy for their families.
At Retirement
When approaching retirement, the focus shifts from accumulation to drawing an income. Pension freedoms mean you now have multiple routes to access your savings, each with unique advantages and tax implications.
Core options include:
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Flexi-Access Drawdown: Maintain control and keep funds invested, drawing income as required while targeting long-term growth.
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Annuities: Convert part or all of your pension into a guaranteed lifetime income, providing security against market and longevity risks.
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Tax-Free Lump Sum (PCLS): Withdraw up to 25% tax-free to repay debt, fund major purchases, or reinvest for flexibility.
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Blended Strategies: Combining annuity stability with drawdown flexibility to balance income certainty and investment opportunity.
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Cashflow Modelling: We simulate different withdrawal patterns and market assumptions, helping you visualise how long your funds may last and when adjustments might be needed.
Our role is to design a personalised retirement income strategy that aligns with your lifestyle goals while minimising unnecessary tax and ensuring long-term sustainability.
***Risk Warnings: A pension is a long-term investment. The value of your pension fund may fluctuate and can go down as well as up. Your eventual income may depend on the size of the fund at retirement, future interest rates, and tax legislation. The value of investments and any income from them can fall as well as rise, and you may not get back the original amount invested. Taxation planning is not regulated by the Financial Conduct Authority. The Financial Conduct Authority does not regulate cashflow planning. Estate planning, including inheritance tax planning, is not regulated by the Financial Conduct Authority.
Want to find out more about retirement planning?
A well-structured retirement plan can make all the difference between financial uncertainty and lasting independence. Whether you’re building your pension, approaching retirement, or managing income in later life, the right strategy can help you make the most of your wealth and enjoy the lifestyle you’ve worked hard for. Book a free consultation today to explore your retirement options with a qualified adviser.
Complimentary meeting with personalised advice to help you make confident financial decisions.
1 hr 30 min
Free
30 min