Retirement Planning

Guide to Retirement:
Your New Beginning

Retirement is a major life milestone – and it should be something to look forward to. Whether you're approaching retirement or planning well in advance, this guide will help you explore your options and make confident, informed decisions.

What We Cover

Preparing for Retirement
Your Retirement Options
Passing on Your Pension
How Your Adviser Can Help

Preparing for Retirement

The better prepared you are, the more likely you’ll enjoy the lifestyle you want in retirement.

Why Planning Matters

Your adviser will help you:

Understand your income needs and goals
Structure your savings and withdrawals tax-efficiently
Make sure your money lasts throughout retirement

Where Your Retirement Income Might Come From

Today, many people use a mix of sources:

Personal and workplace pensions
The State Pension
ISAs and investments
Property income
Bonds or savings
Part-time work

You may be able to continue contributing to a pension and still receive tax relief – even after you’ve started withdrawing.

Did you know?

Male life expectancy in the UK is now 84.9 years and rising. For women, it's 87.2. Your retirement income might need to last 20 years or more.

Your Retirement Options

Modern pensions are flexible, giving you more control over how and when you take your money. But with flexibility comes complexity – and getting advice can help you make the most of your choices.

Key Questions to Consider

When do you want to retire?
Do you plan to work part time?
Would you like to pay off a mortgage or go on a big holiday?
Is leaving a legacy to family a priority?

Ways to Take Your Pension

Option	Pros	Cons
Take a lump sum	Immediate cash	May incur a large tax bill; no remaining pension
Flexi-access drawdown	Flexible withdrawals; remaining funds stay invested	Must manage withdrawals carefully; market risk as values can still go up as well as down
Buy an annuity	Guaranteed regular income	Less flexible; income may be lower

You can mix and match these options – and even change your mind later. Many pensions allow you to leave funds invested as long as you like.

Don't Forget Tax

You can usually take up to 25% of your pension pot tax-free. The rest may be taxed as income, so it’s important to plan withdrawals carefully to avoid unexpected tax bills.

Passing on Your Pension

Pensions can be a tax-efficient way to leave money to loved ones – but only if you plan ahead.

From 2027, pensions will be included in the Inheritance Tax (IHT) regime for some individuals. Early planning is essential.

Tax treatment varies according to individual circumstances and is subject to change.

Make Your Wishes Clear

To ensure your pension goes to the right person, complete an expression of wish form. This tells your pension provider who you’d like to receive your pension when you pass away. Your adviser can help you keep this up to date.

Tax Rules at a Glance

If you die before age 75:
Your beneficiaries can usually inherit your pension tax-free.

If you die after age 75:
Beneficiaries may pay income tax on what they receive.

How Your Adviser Can Help

Planning your retirement can feel overwhelming – but it doesn’t have to be. Your financial adviser is here to:

Explain your options clearly

Help you create a sustainable income plan

Aim to maximise tax efficiency

Keep your retirement goals on track

Next Steps

Start by thinking about your ideal retirement. What do you want life to look like? Then speak to your adviser – together, you can create a plan that turns your vision into reality.

Get in Touch

I have had the service of an IFA for more than 30 years. The advice given has enabled me to maintain my lifestyle during my retirement. Following his own retirement, my IFA’s business was taken over by Intuitive.

I am delighted with the same personal and helpful advice as I have grown to expect. It pleases me that I am listened to and treated as an individual. Options to meet my parameters are fully and clearly explained and I know that my chosen option will be in my own best interests.

My confidence in Intuitive is such that I have recommended them to family and friends.

Jim. Bedford

I have been using Intuitive FS for several years now and appreciate the friendly, personal service they provide to me. Their initial assessment of my financial position and how to maximise my goals was a detailed informal discussion which I found relaxing and very reassuring. Our annual reviews ensure I am updated on my financial goals and any beneficial changes to my investments. I recently sought advice regarding my state pension and received advice within 2 days.

I would happily recommend Intuitive to anyone.

Andy H.

The Intuitive team are, to a person, communicative, practical and thorough. They provide me with all options to suit my needs, and are flexible to any changes of needs, income and proactive. I'd recommend them to others, and indeed, have done so.

Andrew Sutton Coldfield

Louise is an outstanding advisor—highly professional, personable, and always approachable. Her one-to-one annual reviews are thorough and give me full confidence that every aspect of my pension is being carefully managed. I know I can reach out to her anytime and always receive a prompt, helpful response. In the ever-changing landscape of financial regulations, Louise is a shining beacon, providing clarity, expertise, and genuine care.

Kevin. Rugby

Intuitive FS are my professional support for my financial affairs.

Louise has looked after me since my husband passed away, managing my personal finances in a friendly, patient, knowledgeable way. Louise is always on hand to talk me through my ideas, she listens and works with me offering balanced financial advice.

I feel secure and in control with Intuitive FS.

Louise is the difference between a “good “ advisor and a great one.

Alison. Bolton

We’ve been clients of Richard’s for over 20 years, and throughout that time he has consistently provided clear, honest, and thoughtful advice. He’s always approachable, takes the time to explain things in a way we understand, and genuinely has our best interests at heart. We wouldn’t hesitate to recommend him to anyone looking for a trusted advisor.

Jason. Coseley