Pensions

You should ensure that your income continues when your business ceases upon reaching your retirement date. One way to achieve this is to let your business pay for your retirement income and reduce your tax liability at the same time by investing in a Personal Pension Policy.

Contributions are tax relievable and are paid into a fund which grows almost entirely tax free until you reach your chosen retirement date. At which time you can elect to take some of your fund as a tax free lump sum and the rest can be used to provide you with an income for the remainder of your lifetime.

As we see it farriers and blacksmiths face a number of problems:

• The physical demanding nature of the business means that many young farriers/blacksmiths anticipate retiring earlier than colleagues in other industries.
• Careers can be further shortened and interrupted by injury/back problems.
• The length of career and therefore the time available for saving for retirement is relatively short for a farrier/blacksmith.
• Some farriers and blacksmiths wish to retire gradually over a number of years rather than at a specific age. It is therefore vital to make not only adequate pension provision but also to select the right Personal Pension Policy from the dozens currently available from insurance companies, banks or building societies.

We have access to the vast majority of Personal Pension Policies.

For further details, help or advice please ring or email us, for details visit our contact us page, or complete the enquiry form and we will contact you