Retirement Services FAQ

Yes, absolutely. We conduct many pension reviews for our clients and often find people are invested in over-charging, poorly performing pensions. We can help you get more from your pensions by conducting a thorough review to detail exactly what you have, what you are being charged, what sort of returns you have been getting and what level of risk you are taking. In many cases we can recommend a much better pension in which to invest. Remember that we work completely independently and will always recommend the best course of action for you.

Yes. One of the things we consider when reviewing pensions is the benefit of consolidation. Bringing all your pensions under one roof can make administration simpler and mean you have less paperwork to contend with. We always conduct a very detailed analysis of your pensions and will only recommend you consolidate them where this is clearly in your best interest.

Almost everyone can start a pension.  There are lots of advantages to having a pension, but the type that is most suitable for you depends on your objectives and circumstances.  We can help you identify the features you need and set this up to make sure you have your ideal pension.

Pensions are often a great way to save for retirement because of the tax benefits they provide, but there are other ways. This may be by using ISAs or other forms of investment or by using a property investment such as a buy-to-let. You may be expecting an inheritance or maybe you will continue doing some work in your latter years. Increasingly we find many people using a combination of ways to provide themselves with an income in retirement. This is why effective retirement planning is so important to get right to ensure you can live the lifestyle you want in retirement.

Yes we can.  There are now more choices than ever when you want to take an income from your pensions.  This is great news but makes it more important than ever to have a proper income strategy in place.  We can use our expertise to make sure you receive the highest level of income in the most tax efficient manner.

A lot of people are paying higher charges than necessary on their pensions.  The first step is understanding exactly what charges you are paying.  This can be a challenge in itself, with many pension companies having confusing and complex charging structures.  We can help you understand what charges you are paying and whether or not you require the features you are paying for.  With this understanding, we could then recommend a more appropriate, lower cost solution to you.

Yes we do.  Cost is one of the key determinants of how much income and tax free cash you can ultimately take from your pension.  We have specific strategies in place to provide a really low cost pension that provides fantastic value.

When you come to draw your pension, you will usually be entitled to take a quarter of it tax-free, whether as a lump sum or as a quarter of each withdrawal. You may purchase an annuity to provide a regular income for life with the remainder of your pension. Alternatively, you are free to draw any amount at any time from your pension as long as you pay the required income tax. We can help you by putting the best strategy in place to ensure you get the income you need and the certainty you will depend on.

Certainly. First, you might want to check out the other FAQ pages to see if your question has been answered already. If not, please contact us or use the ‘live chat’ at the bottom right of every page. We’d love to answer any questions you have about NorthStar and how we can help you achieve your financial goals.