Formulating a strategy for taking benefits
Parafinity can help you work through the myriad of options available for taking pension benefits, as well as strategies for maximising income and minimising tax liabilities.
The Parafinity approach is to balance the competing needs and goals of the clients and come up with a personalised retirement income plan which tackles the four main concerns of clients who are nearing retirement.
During this process, we will consider factors such as the client’s age, health, financial situation, and retirement goals, as well as details on the different options available for taking pension benefits, such as tax-free cash versus enhanced income from a defined benefit scheme, annuities, income drawdown and more modern third way options.
The purpose of this is to help individuals make informed decisions about how to access their pension benefits in the most efficient and effective way possible.
As part of this service, we can draft a retirement planning report to help your client understand the potential benefits and risks associated with each option, and can also provide suggestions to help you recommend most appropriate course of action based on their specific circumstances.
