"I have known David Henderson for seven years and during that time, he has had full control of my financial investment portfolio through retirement and the consequences of adjustment to widowhood. I have never had any cause to doubt his skilled advice and commitment. This has been delivered through a friendly and totally reliable relationship. I have regarded him as a trustworthy friend and in terms of the financial manoeuvres, his practical adjustments have (thus far in a volatile world!) all been safe and successful. He has been helpfully reassuring at times based on an extensive knowledge of theway the markets and global economy works I find this very educational. I have recommended his services to several friends all of whom have commented most favourably after his input totheir finances."
State Pensions & Personal Pensions
The State Pension is just one source of pension to fund your retirement and is not sufficient on its own to meet your requirements after retirement.
Single Tier State Pension
For everyone reaching State Pension Age (SPA) on or after 6 April 2016, you’ll get the new State Pension –currently a maximum of £164.35 per week – if you’re eligible, and:
- a man born on or after 6 April 1951
- a woman born on or after 6 April 1953
The amount may be lower, depending on your National Insurance (NI) record. You’ll usually need 10 qualifying years to get any new State Pension, and to qualify for the full amount you’ll need NI contributions for at least 35 years.
If you reached State Pension age before 6 April 2016, then as your State Pension you’ll continue to receive:
- The Basic State Pension – for those who have paid sufficient National Insurance contributions while at work, or have been credited with enough contributions.
- Additional State Pension – referred to as the State Second Pension (S2P) and known before 6 April 2002 as the State Earnings Related Pension Scheme (SERPS). From that date, S2P was based upon earnings on which standard rate Class 1 National Insurance contributions had been paid, or were treated as having been paid.
If during any period of your career you were self-employed, you may benefit from taking out a Personal Pension (below): not least because Additional State Pension is not available in respect of any self-employed income. So the time you spent self-employed will decrease the amount you receive through your State Pension.
All pension schemes in the UK now operate under a single system of rules (introduced on 6 April 2006 – ‘A’ Day).
Within these common rules, many different ‘tools’ are available to save towards retirement, and you can learn more in our section on Retirement Planning.
THE FINANCIAL CONDUCT AUTHORITY DOES NOT REGULATE TAXATION ADVICE.
Pensions are a long-term investment. You may get back less than you put in. Pensions can be and are subject to tax and regulatory change therefore the tax treatment of pension benefits can and may change in the future.
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We have the benefit of many years spent advising doctors and dentists and guiding them through financial planning for protecting the family, savings and investing for the future, retirement, and the complex tax issues that can arise. -
There are many different ‘tools’ that help you save for retirement, and the taxation and investment elements of each can appear baffling. We explain, recommend and monitor pension products for you, putting you in control of the choices that will achieve your goals. -
Our mission is to use our knowledge and skills to provide unbiased financial advice, so that you can face the future with increased confidence regarding your financial position today, and the financial security of your family in future. -
Every investment carries some element of risk, which is why we reflect risk management in the financial planning we provide for clients. We work with you so that you are financially well organised, aware of your current and likely future financial position, and therefore remain in control of the choices you make. -
Buying a property can be stressful and time consuming at the best of times, and for some borrowers finding and selecting the most suitable mortgage for them can be a contributory factor. Working with us means that you’ll benefit from informed advice from the outset, backed by up-to-date financial intelligence, and years of practical experience.
