Retirement Planning Advice Service

Retirement planning is the process of working out how much retirement income you will need and how your savings, pension, and investments will get you there. It brings together what you will receive from the state, any workplace pension scheme or personal pension, ISAs, other investments, and property into one clear picture.

The average retirement today lasts 20 to 30 years, and planning should account for living expenses across up to 35 years. Your financial future depends on getting this right well before you stop working life.

A pension is also a long-term investment that can fluctuate. Many people have multiple pension pots built up over their careers, and consolidating those is one of the most valuable things a financial adviser can do. Many people now move through phased drawdown, part-time work, and flexible options before they finally retire.

At Prescient Wealth & Estate Management, every retirement plan we build starts with your individual circumstances, your income goals, your assets, your lifestyle preferences, and the retirement you want. Our financial advice covers reviewing your pension fund, helping you decide how to draw down efficiently, and helping you consider how to generate the retirement income you need.

Good financial advice at this stage creates a personalised plan designed around your circumstances. We help you build a plan that fits your lifestyle, structure your finances so you can retire on your terms, and arrange a tailored plan with a regular review schedule. A clear plan with clear costs and a clear income strategy can help you prepare for retirement.

Defined Contribution Pensions and How Your Fund Grows

A defined contribution pension is the most common type of workplace pension in the UK today. You and your employer both pay into a fund that grows through investment across your career. You can take up to 25% as a tax-free lump sum and use the rest to generate income through drawdown.

The minimum 8% contribution rate is widely considered too low for a comfortable retirement. Our retirement advisers help you model what your pension pot will look like, assess the risk level of your investments, and work out whether you need to save more or invest differently. These factors can make an enormous difference to the final value of your pot.

Defined Benefit Pensions and What Your Scheme Offers

A defined benefit scheme pays a guaranteed income based on your salary and years of service. Defined benefit pensions are increasingly rare, but if you hold one, decisions about whether to transfer or take your benefits are among the most significant financial decisions you will make. Getting them wrong can permanently cut what you receive. Our financial planning team makes sure you understand the value of your defined benefit scheme before you decide anything.

The State Pension and How It Fits Into Your Plan

The full new state pension pays those who reach state pension age with 35 qualifying National Insurance years a useful base income, but it is a starting point rather than a full retirement income.

We help you understand how the state pension fits alongside your pension fund, whether you are on track for the full amount, and whether topping up your National Insurance record is worth it. This is a government benefit many people fail to fully claim.

Tax relief can be a valuable part of retirement planning. Basic rate taxpayers receive 20% relief on pension contributions, and higher earners can claim up to 45%. Every pound you save into a pension costs significantly less from your take-home pay, and that is one of the core benefits of pension saving over direct investment.

The tax implications of when and how you draw your pension matter just as much. The order in which you access different income sources affects your tax position each year. We consider tax when planning how you access your pension, including advising on lump sums and flexible withdrawals. Tax treatment depends on your individual circumstances and may change.

Many people invest in a default pension fund throughout their career without ever reviewing whether it matches their risk appetite. The fund you are in, the level of risk you carry, and how your capital is deployed across your assets all affect the final value of your pot.

Our advisers review your investments, assess your risk profile, and recommend changes where we consider they better match your risk profile and goals. We look at your cash position and equity exposure, and consider how your investments are spread, to help you plan a sustainable income in retirement. No investment can guarantee a particular income.

A pension calculator gives you a rough picture of where your retirement savings might take you. It will not account for relief on contributions, fund performance, or the risk factors that affect your investments.

Research shows only around 27% of UK savers feel confident they can retire at their desired retirement age. That tells you how many people need proper financial advice from a qualified adviser rather than a calculator and a guess.

The cost of financial advice varies by situation. A one-off retirement planning review typically runs between £500 and £3,000. Ongoing adviser fees usually run at 0.75% and 1.25% of your invested assets per year.

At Prescient Wealth & Estate Management, we talk through the overall cost of our service before you commit, with no hidden charges. If you have a mortgage or other borrowing, we factor that into the full picture too. 

**Please note this is a rough guide and the actual cost will vary based on your financial situation, the complexity of advice required, and the service you choose. We keep an updated price list on our financial planning fees page but you need to contact us for an accurate quote.

Is Financial Advice Worth Paying For?

Advice can help you make informed decisions, but we cannot guarantee any particular financial benefit. The benefits of working with an adviser go beyond money, it is about making informed decisions with confidence.

Demand for retirement guidance is rising, with 42% of UK workers saying they would benefit from more support. The value is in having a plan built around your situation and reviewed by someone who understands all the factors at play, including the taxation of withdrawals and the risk of under-saving.

55 is widely cited as the peak age to seek retirement planning advice, and one in three people over 44 say they will arrange a meeting with a financial adviser in the next six months. As an estate and wealth management company, we are ready for that conversation whenever you are.

We hold qualifications to advise on defined benefit transfers, pension drawdown, and investment strategies, all the key decisions in retirement life. Our financial advice is always personalised advice built around your goals, your finances, and your individual circumstances. Proper advice means understanding what your pension is actually worth, what your retirement costs will look like, and how to generate the income you need. We help you understand your pension options, start planning with confidence, and decide what approach is right for you.

From your first meeting, we build a full picture of your finances, create a clear view of your goals, and create a personalised plan covering your pension, savings, tax position, and income strategy, then arrange a regular review with your pension provider and our team. Our advice is hands-on and ongoing, not a one-off report. Good advice can help you plan for how long your pension may need to last.

Contributing earlier may increase your pension pot, but growth is not guaranteed. Tax relief means you invest more than the cash cost to you. The first step is simply to talk to us.

If you are thinking about retirement, have a pension you have not reviewed, or want to know whether you have enough money set aside, you may want to speak to an adviser.

At Prescient Wealth & Estate Management, we offer a free first appointment with no obligation. You can arrange a time that suits you, talk through your circumstances, and leave with a clear idea of what a professional retirement plan and the right financial advice could do for your financial future.

Book your free appointment with Prescient Wealth & Estate Management today and start building a retirement plan.

Important: The value of your pension and investments can fall as well as rise, and you may get back less than you invest. Tax treatment depends on your individual circumstances and may change in the future. Pension transfers are not suitable for everyone.