Pension Awareness Week is back and this year it’s celebrating 10 years of making a positive difference.

Now is the time to get to know your pension better than ever and prepare for the future you want.

Our financial planning team Robson Laidler Wealth are on hand to guide and steer you on the best pension planning options for you.


Our recent podcast episode with our Chartered Financial Planner Neil Cowie breaks down some things you may like to consider, and we’ve also summarised them below:


A few things to get you thinking…..

😊 When you contribute to a pension, HMRC automatically re-credit the tax you’ve paid on that amount into your pension. So if you are a basic rate taxpayer and pay £80 per month, HMRC will add £20. Who doesn’t want free money from HMRC? This should be added to your employer’s contribution if you are employed – who doesn’t want extra from their employer?


😊 Did you know that when pensions are growing they grow free of any tax on income or gains. Unlike interest paid on savings being taxable, unless held in ISAs or when the interest is under the threshold depending on your other income. They are potentially free of inheritance too so you can leave them as a legacy to anyone you want and they don’t disappear when you die.


😊 Pensions offer great long-term returns. You can achieve this by investing in great companies of the world. We’d recommend starting early and being as diverse as possible to mitigate those inevitable ups and downs.


😊 It is vitally important to take responsibility for your long-term future – we often meet people in their 50’s who are only starting to think about how they will fund their “life post work” and realise that they will have to work on a bit. Remember the State Pension is only £10,500 per annum in today’s money – ask yourself if you could live on that?



😞 You cannot access your invested pension until 10 years before your State Pension Age – for most people it will be 57 (but if you are 57 before 6 April 2028 it’s 55). If you want to retire earlier, you may have to use other assets to bridge the spending gap.


😞 Whilst you receive tax relief on your contributions, there is an element of tax to pay on withdrawals although 25% is tax free. It’s sensible to look at your other income and perhaps phase any income drawn from your pension within certain tax bands. Advice is very handy here too.


😞 Depending on when you start the workplace pension minimum contributions of 8% (employer, you, tax relief) may be unlikely to provide you with all the income you need to live the life you would like post-retirement. At Robson Laidler Wealth we can help you see how much you need to start putting away now!


😞 Investment markets go up and down, it’s important to get an understanding of what you are investing in. Investing is not a straight line and you need to be aware how investments can fluctuate whilst always looking to the longer term.


The brainchild of Pension Geeks (champions of all that is retirement), Pension Awareness Week sets up a week of online live shows that break down the most jargon-juiced topics and confusing questions into bite-sized chunks.


Alongside the live shows are a host of articles, videos, and resources. Please visit:


Here at Robson Laidler Wealth we believe that having an actual discussion about your retirement aspirations and taking appropriate advice is essential. Use the following contact details to book a retirement chat with one of our qualified financial planners: or call 0191 281 8191.