Birkdale office
Birkdale, SouthportMerseyside
- Phone
- 01423 611004
- enquiries@seventyfinancialplanning.com
- Meetings
- By appointment, in person or by video
Pension planning in Southport & Birkdale
Retirement planning for Southport, Formby, Ormskirk and the Sefton coast. Know what you can spend, when you can stop, and what your pensions will mean for your family.
Pension planning that starts with you
A lot of people choose Southport and its neighbours to retire, and a lot of the people we meet here are either about to stop work or recently have. The questions are practical: how do I turn my pensions into a steady income, how much can I safely take, and what happens to what’s left?
We answer them with your own numbers. We gather every pension, add your State Pension forecast and savings, and build a year-by-year plan you can live with, then review it every year as markets and rules move.
- A reliable income. Combining drawdown, annuities and the State Pension so the essentials are covered and the rest stays flexible.
- Tax-efficient withdrawals. Using your personal allowance, tax-free cash and ISA income to keep your tax bill down.
- Old pensions found and reviewed. We trace forgotten workplace pensions and check whether combining them helps.
- Ready for April 2027. Unused pensions will usually count for inheritance tax. We look at what to spend, what to keep and who should inherit.
What’s changing, and when
Five dates that shape pension and inheritance tax planning between now and 2031.
Farm and business relief capped
100% agricultural and business relief now applies to the first £2.5 million of qualifying assets per person (transferable between spouses). Above that, relief is 50%.
Pensions enter the estate
Most unused pension funds and death benefits count towards inheritance tax for deaths on or after this date. Death-in-service benefits are excluded.
Minimum pension age rises to 57
The earliest age most people can take money from a personal pension moves from 55 to 57. The State Pension age is also reaching 67 by 2028.
Salary sacrifice capped
Only the first £2,000 a year of pension contributions made by salary sacrifice will stay free of National Insurance.
Allowance freeze ends
The £325,000 nil-rate band, £175,000 residence nil-rate band and £2.5 million relief allowance are fixed until this date.
Pension planning across the Birkdale area
We help clients in all of these towns, in person at our Birkdale office or by video.
- Ainsdale2 miles
- Formby5 miles
- Ormskirk7 miles
- Crosby11 miles
- Maghull8 miles
- Burscough7 miles
- Skelmersdale11 miles
- Tarleton & Hesketh Bank8 miles
- Leyland14 miles
- Lytham St Annes8 miles
Birkdale, Southport
Merseyside
I have enlisted the help of two leading members of Seventy Financial Planning over the past few years – Chris Riley and Andrew Brierley. Both have been fantastic and relaxed in their friendly Yorkshire manner! In fact all of the team at Seventy are great. Highly recommended.
Seventy brought real clarity to my personal situation, highlighting areas that need attention and which were performing well. I appreciated the genuine desire to understand my personal situation. The unhurried and professional approach made Seventy a pleasure to work with.
My wife and I first contacted Chris at Seventy some 10 years ago. We were very impressed with him and the advice we were given, and have been ever since. It is good to know that our finances are being taken care of by such a competent adviser and I would recommend Chris’s services to anyone.
The team at Seventy Financial Planning have provided my wife and I with invaluable expert advice and support over a number of years. Their services are very professional and first class. I would not hesitate to recommend them to anyone seeking independent financial advice.
Seventy has been a real lifesaver for us. Our investments with a previous firm were rapidly depleting. This would have resulted in severe difficulties for us. Seventy stabilised and grew our investments. That this was achieved in the difficult markets we are seeing is impressive.
Chris from Seventy sat with me and assessed my needs and how risk averse I am. He then provided me with a full review of findings and investment options. I am now in a better financial position than I would have been without his advice and I have been able to take early retirement.
Pension planning: your questions
How much can I take from my pension tax-free?
Usually up to 25% of each pension, with an overall limit of £268,275 for most people. You can take it all at once or in stages.
Is drawdown better than an annuity?
Neither is better for everyone. Drawdown is flexible but carries investment risk; an annuity is certain but fixed. Many people combine the two, and we’ll show you how each would work for you.
Will my pension be taxed when I die?
From 6 April 2027 most unused pensions are added to your estate for inheritance tax, unless they go to your spouse, civil partner or a charity. If you die after 75, your beneficiaries also pay income tax on what they draw.
Also from our Birkdale office: financial planning and inheritance tax planning.
Let’s chat
You’ve learned a little about us, and now we’d like to know a little about you.
Let’s arrange a free, no-obligation call with one of our advisers.
Fill in the form and we’ll be in touch, or simply call us on 01423 611004.
HarrogateHaggs Road, Follifoot, Harrogate, North Yorkshire
BirkdaleBirkdale, Southport, Merseyside