There are many ways to save towards retirement and choosing the best way can be complex so we at Reynolds Financial Solutions can steer you through to make the right decision to suit your budget and time to retirement.

As we live longer our retirement provision needs to last us longer and if we plan correctly, we can have a good standard of living in retirement.

Personal Pensions

This is a way of saving money either on a regular basis or by the way of a lump sum to potentially grow over a period of time until you decide to retire. At retirement you will then have the option to choose how to take the fund you have built up. It is designed to replace some or all of your income previously received during employment.

Many of our clients contacted us as they had several personal pensions that they have taken out over many years. After consideration within our pension review process, we were able to consolidate these into one plan making it easier for them to manage and draw on them in retirement.

Flexible Drawdown

Known as a flexi-access drawdown and is a way of taking money out of your pension pot to live on in retirement. It can give you more flexibility over how and when you receive your pension, a great way of potentially saving tax you pay and only taking the amount you need when you need it. You can take up to 25% of your retirement pot as a tax free lump sum.


A pension annuity is a product that pays you a regular income for the rest of your life or for an agreed number of years, no matter how long you live.

When you retire, one of the most important decisions you’ll need to make is how to secure enough income to live out the rest of your life in comfort. One option is to convert the pension pot you’ve built up into a regular income. You can do this by buying what is called a pension annuity or an ‘annuity’. With a pension annuity, you’ll know exactly how much you’re getting, come rain or shine.

There are many types of annuities with several options to choose from so advice from a specialist is essential in planning for retirement as this is an important decision which will affect your lifestyle throughout retirement. We are here to guide you through at Reynolds Financial Solutions so don’t hesitate to contact us.

The value of pensions and investments 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 circumstances and is subject to change.