Make the most of your retirement money
Think about the future
Your plan can include all your retirement savings and sources of income, not just your pensions.
Use your savings efficiently
We can recommend how to use your savings so you pay no more tax than you have to.
Stay on track
Whatever retirement means for you, we can help keep you on track, so you don’t run out of money or spend too little.
See what retirement income advice could do for you
The overall service has impacted our retirement considerably. It’s difficult to go from a saving mindset to one of actually spending. This has allowed us to do things we’d never have dreamed of doing during our working career.
Steven, Age 63
How does the Retirement Income Advice service work?
1. Complete your plan
Use our Retirement Planner to analyse your (and your partner’s if you like) savings, income and expenses, and see what’s affordable.
2. Speak to an Advice Specialist
We'll look at your plan with you, help fill in any gaps, and ask you questions, like your feelings towards investment risk.
3. Our recommendations
We’ll send you a summary and an explanation of our recommendations, costs, risks and next steps. This is regulated financial advice.
4. Decide what to do next
We’ll answer your questions until you’re ready to take the next step. We only charge if you go ahead with our recommendations.
5. Put your plan into action
If you decide to go ahead, we’ll set everything up, organise the transfer of your money and send you a payment schedule.
6. By your side
Every year we’ll review your plan, recommend best next steps and put them in place. You can ask for an ad hoc review any time.
How much will it cost?
Our retirement income advice fees are designed to make trusted, regulated financial advice accessible for everyone. The service includes a yearly review, and you can change your plans for no extra cost.
Fees are based on a percentage of the money you have in your accounts.
- Advice fee: 0.60% each year for providing ongoing advice and management.
- Platform and administration charge for running the online services that hold your investments: 0.30% each year for assets up to and including £250,000 and 0.20% each year for assets over £250,000, per individual.
- Fund charge: 0.14% each year for the operation of each of the funds within your investment portfolio.
- Annuity arrangement fee: 2% of the annuity purchase price, as a one-off fee if you purchase an annuity. The money you spend on an annuity will not be included for platform, administration and fund charges.
There may be further transaction costs within the underlying funds and Embark (the platform provider) might charge ad hoc servicing fees.
Learn more about our Retirement Income Advice service
We think it’s important to seek financial advice when you start accessing your pension savings. You’ll need to make some big decisions.
Although it doesn’t come for free, it can be worth every penny. Our service is structured so that it’s affordable for most people. And we only charge for our advice if you go ahead with our recommendations.
We’ll help you:
- consider all your retirement savings and sources of income, not just your pension. There could be good reasons why you should withdraw money from different sources at different times.
- keep more of your money and pay no more tax than you need to. This could mean you have tens of thousands more to spend in retirement.
- look ahead to help ensure you don’t run out of money – or spend too little when you don’t have to.
- bring your retirement savings together. We handle the paperwork then make sure the money you need arrives in your bank account as planned.
- review your plan every year and make any changes you need to.
- update your plan at any time if your circumstances change.
You need a minimum of £5,000 in a pension to use our Retirement Income Advice service.
We believe everyone should have access to financial advice when they retire. We know how to help you make the most of every penny. And if your circumstances change (such as receiving an inheritance), we can help you re-plan and stay tax efficient.
If something changes, we can help update your plan at any point. You can review your plan every year and make any changes you need to.
Do you want to know more?
Speak to an Advice Specialist
We're here to help if you have any questions or are struggling to get started. There’s no obligation – just free, practical help.