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Pension

Type: Finance

Situation

In 1998, we were asked by a new client to review his existing pension plan at which time was valued at £360,000. 

This client was unhappy with his current provider and wished to retire at the age of 65 in 2011. We were asked to advise this client with a view to him achieving a pension fund of approximately £1,000,000 by the time he retired. 

Solution 

We effected a plan that involved a combination of good fund performance from the chosen fund provider and the client increasing his monthly contributions in line with our recommendations. 

Results 

The client was able to withdraw a tax free cash amount from his pension of £180,000 and his fund at retirement had also reached £982,000. Cumulatively this is well in excess of his target and our client was delighted with the outcome. 

We are particularly proud of the performance of this case; the period from 1998 to 2011 was not particularly buoyant and we matched the investment strategy to the client’s attitude to risk. He was in the “mid-range” and the funds selected were an evenly balanced mixture of caution and growth.