Looking Forward to Retirement
In the new age of leisure many people will look forward to a far more active retirement than their predecessors of past generations. Retirement will provide the opportunity to pursue your favourite pastimes on a greater scale than time may have permitted during working life. It may also open the door to new experiences with a far wider choice of activities now on offer and the chance to travel to many interesting new destinations.
But like many people approaching retirement you may be concerned about whether your pension will provide you with enough money in your pocket to do all the things you would like to do. This is probably of greatest importance in the early period of retirement when you hopefully still have the benefit of good health as well as the energy and enthusiasm for greater levels of leisure activity.
Perhaps you are about to take early retirement, whether by choice or otherwise. In this case it may be that you will only need part of your pension now if you are working on a part time basis. Alternatively you might need more income in the short term to meet your remaining financial commitments, for example until you pay off your mortgage or your children complete their full time education, or until your state pension begins.
The Intelligent Pensions Managed Retirement Account will give you the opportunity to derive the maximum benefit from your accumulated pension entitlement. It is designed to give you the freedom to dictate how much income you wish to take and when you wish to receive it. In addition your retirement fund has the opportunity to continue growing to give you the best possible return on your pension assets.
In short, the Managed Retirement Account puts you in control of your pension. This is achieved by taking advantage of government legislation introduced to enable you to convert your existing pension benefits into a more flexible and tax efficient form. Whether your current arrangements are in the form of occupational pension benefits or individual retirement plans in most cases you will be permitted to transfer your benefits before you reach retirement.