Case studies

Client Case Study - Retirement

Background – Mr B came to us as he was approaching his 65th birthday and had a number of different pension plans from which he intended to take his benefits.

The problem was that Mr B had five different pension arrangements including a deferred pension under a previous employer’s pension scheme.

He had been sent paperwork by each of the five providers detailing his plans and the options open to him – the paperwork could have formed a small mountain!

Mr B had tried to make sense of it all but, understandably, ended up totally confused and frustrated.

Mr B’s Assets

Homes £180,000 (no mortgage)

Various Savings and Investments £47,000

State Pension entitlement £194pw

4 Personal Pension arrangements totalling £104,000 and one final salary pension with an entitlement of £52pw


    There were two challenges:

    1. To research each of the five pension plans and create an overall picture of them in a clear and straightforward report so that Mr B could understand and begin to evaluate the value of each of them and their relevant importance to each other.
    2. To understand Mr B’s circumstances, requirements and objectives so that the benefits under each of the plans could be considered accordingly and appropriate recommendations made in respect of each of them.

        What We did

          1. Using the authority given to us by Mr B we contacted each of the providers and obtained comprehensive details of each of the plans – these included details and information that would never be routinely included in the literature sent to Mr B.
          2. Based on our knowledge of his circumstances and requirements we then evaluated each of the plans to see how they could best be arranged for Mr B’s benefit.
          3. We then researched the whole of the market to see if the benefits and options could be improved on by switching the funds under any or all of his plans to a new provider – this was particularly crucial as Mr B was a smoker and a number of providers will offer enhanced annuity rates for lifestyle factors such as this.

            The Results

              1. We recommended that Mr B take the benefits from the previous employers scheme as they had been offered as there was no scope to improve on these.
              2. We transferred the other four plans into one new plan with a provider prepared to offer enhanced terms in view of Mr B’s lifestyle – this transfer resulted in just one pension payment each month (instead of four) and an income that was nearly 25% higher than that offered by the original providers.
              3. We established the new plan in such a way that, in the event of his death, Mr B’s widow would continue to receive an income – this was one of Mr B’s priorities.

                Mr B now receives a combined pension each month that exceeds his target income and is substantially higher than that offered by his original providers.

                Retirement is doing anything at my pace.  Being my own master.  With the assistance and help from Steve Webb and his team they made this possible.  What was a dream is now real.  Thank You"

                Mr B, Fareham

                The case study illustrated above is based on one of our clients and its aim is to give you an idea of the type of work and planning we undertake for our clients.

                Changes in legislation and tax can impact on the advice that we give to our clients. This case study is not guaranteed to work in all circumstances and is intended to be a guide.

                Please remember that the value of investments can fall as well as rise.


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                Retirement and Investment Solutions
                5 Lancer House, Hussar Court
                Hampshire, PO7 7SE

                T: 01489 878300
                F: 0870 0104883