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Business retirement planning

Retirement is a big change. For business owners, retirement isn't just leaving behind your career but your business too. This can be emotionally tough when you have worked so hard to create the successful company you have today. However, with executive retirement planning, it doesn’t have to be tough financially.
Ask us about company pensions

Business owners should be pension planning from day one, but don't worry if you haven't been

As a business owner, an executive pension plan should be an integral part of the overall business plan. One of the biggest risks you face in retirement is running out of money. This happens when you’ve made no plans at all, wrongly assume the amount you have saved is enough, or don’t take in to account longer life expenses and rising costs. If you don’t start your workplace pension until you’re 50, you may need to save three times as much each month to get the same pension pot as if you had started just 10 years earlier. Often the worry of what is left in the pot, and it not being enough, puts people off seeking financial advice all together.

 

"My business is my pension"

Pension funds can form part of your exit strategy. If you plan to sell the business as one way to fund your retirement, paying large contributions into an executive pension plan can provide an income and reduce the capital gains tax when you sell.  There are decisions to be made in and around legacy planning, and it’s important to understand that if you decide to sell your business, you can never predict what it will be worth. That’s why having a company pension as part of executive retirement planning is important. It might be worth you taking a look at our business exit planning guide and our retirement planning guide to build a good overall picture of all the things you might need to take in to consideration.

DISCUSS YOUR PENSION PLAN WITH US

Saving for retirement with workplace pensions

Changes to workplace pension and tax legislation have meant business owners are able to take much more control of their pension arrangements. Did you know you can use pension funds to help finance your business? You may be able to set up a small self-administered scheme, which is tax efficient and can hold up to 5% of assets in the business. Retirement planning should play a big part in your personal finances as well as in how to finance your business and eventually realise the value you have built up in it.

 

Expertise for big life-changing decisions

Financial planning gives businesses confidence when making life-changing decisions that impact on life goals. Our business clients use Unividual to bring order to their finances, gain objectivity, proactively plan for anticipated events, gain access to invaluable resources and to collaborate with. We are always available to talk about company pensions and business retirement planning, you just have to take the first step to get in touch.

Start planning your company pensions scheme

Relying on the sale of your business or property to fund retirement?

We explore the all important question what and how much  is ENOUGH for retirement in this podcast. We focus on a concept of achieving ABUNDANCE when it comes to retirement planning.  Chartered Financial Planner Simon Jones discusses some of the mishaps a lot of people make when planning their own finances towards retirement age. We give listeners tips on what is needed to prepare for the best quality of life in your retirement age.

The value of pensions and the income they produce can fall as well as rise, you may get back less than you invested.
Tax treatment varies according to individual circumstance and is subject to change.
Exit Strategies and Legacy Planning are not regulated by the Financial Conduct Authority.

Delaying retirement planning is costing you. Reach out to get started today.

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