Worcestershire, UK -- (SBWIRE) -- 08/14/2012 -- Pension planning is one of the most important financial processes a person can go through. From analysing pension income drawdown to weighing the benefits of phased retirement, there are a number of pension options to consider.
But given the high annual fees imposed by certain pension plans and many wealth managers and private banks, it is imperative for people to completely understand the differences between each of their retirement options prior to making a final decision.
To offer people throughout the UK guidance and assistance regarding pension planning, the financial experts from The Whitehall Partnership recently launched HowCanIRetire.co.uk. The site is dedicated to helping people with pension funds in excess of £150,000. On the new site, the advisers from The Whitehall Partnership address current UK pension issues, in particular income drawdown schemes, often referred to as flexible retirement solutions, and pension charges.
An income drawdown allows people to draw income from their pension while the funds still remain invested. And while this type of pension offers a number of benefits, it is important for people to understand the associated pension income drawdown charges.
According to The Whitehall Partnership, not all fund managers make their fees transparent to customers. This makes it very difficult for people to know how much they are truly paying in annual charges and, in many cases, puts them in a bad financial situation.
The experts at The Whitehall Partnership state, “The Whitehall Partnership is uniquely a true fee based firm of advisers that provides fixed price financial planning, not product sales. A UK pension owner with a fund value of £200,000 could be paying charges over a 10-year period of £60,000. The Whitehall Partnership expects to cut this amount in half over the same period and provide better levels of service.”
The site explains how money saved in charges equates to less reliance on pension pot growth, allowing people to take less risk with their investments.
The new site also discusses another popular pension plan many UK residents are currently taking advantage of called phased retirement.
The Whitehall Partnership has proven it is possible to manage pensions of all types without the costs incurred using conventional pension plans. The company features a five-step management process that ensures clients receive the best possible service throughout their investment life cycle. Through the five-step process, the company’s financial experts analyse a client’s current situation, diversify their portfolio, formalise an investment policy, and monitor and supervise a client’s pension.
For more information, visit http://howcaniretire.co.uk
About The Whitehall Partnership
The Whitehall Partnership provides quality, individually tailored financial advice to ensure client’s recent high-quality investment solutions. The firm is headed up by a number of experienced professionals offering a truly unique service to clients. The company’s core methodology is based on the results of extensive research carried out in the USA, New Zealand and Australians by institutions keen to push the science of investing forward.