The Benefits of Seeking Professional Pension Advice
One of the most frequently asked questions is: When is the best time to seek financial advice? Often, it’s triggered by a significant life event – an inheritance, approaching retirement, divorce, or a change in employment. But there’s rarely a perfect time.
Perhaps a better approach is to ask yourself:
Is money controlling you, rather than you controlling your money?
Do you feel overwhelmed or anxious about your financial future?
Do you have multiple pension pots but no clear plan for them?
How much do you need to save to retire, and when will that be?
Are you making the most of your tax allowances and reliefs?
There are many more questions we could add. The point is that any moment could be the right time to reach out to a financial planner like Ifamax—and the earlier, the better. Financial planning isn’t just about numbers but about your goals, values, dreams, and aspirations.
We Can Help You Understand the Complexity of Modern Pensions
It’s easy to see why some investors opt for the DIY approach – it feels cheaper and more straightforward. But, like any DIY job, the stakes are higher if things go wrong. Financial planning is more than just choosing funds – it’s about making informed decisions and protecting your future.
Pensions today are more complex than they might appear:
Pension rules change regularly – from annual allowance adjustments to the removal of the Lifetime Allowance (April 2024), these shifts can significantly affect planning.
Defined benefit schemes can be extremely valuable, though they are becoming less common. Understanding how they compare to defined-contribution plans is vital before considering any transfer.
Are you on track for a full State Pension? The full new State Pension (as of 2024/25) is £221.20 per week, but this depends on your National Insurance record – you can top this up.
Many people have accumulated multiple pensions over the years – do you know how to consolidate them efficiently?
Have you completed nomination forms? These ensure your pension is passed on according to your wishes, and they need to be kept up to date.
Are your pension savings aligned with your long-term goals?
At Ifamax, we provide straightforward, regulated advice that helps you understand your options and take action to secure your future.
You Get a Personalised Retirement Plan That Suits Your Life
No two retirements look the same. For some, retirement means travelling the world; for others, it’s about supporting children or simply enjoying life without financial worry.
That’s why we don’t offer one-size-fits-all solutions. Our advisers take the time to understand your circumstances – your current financial position, lifestyle preferences, and long-term goals. From there, we create a tailored strategy that reflects your risk tolerance, investment horizon, and life stage.
With Ifamax, you gain:
Clarity on your current financial picture
A structured retirement plan that adapts over time
Confidence that your goals are achievable
You Can Keep More of Your Money with Smart Tax Planning
It’s not just how much you save – it’s how much you keep that matters. Without a tax-efficient strategy, you could lose thousands in unnecessary tax.
Our advisers are specialists in pension tax planning and can help you:
Make the most of your 25% tax-free lump sum
Understand the tax implications of drawdown vs annuity
Structure withdrawals to avoid tipping into higher income tax bands
Combine pensions with ISAs and other tax wrappers to create efficient income
Navigate the abolition of the Lifetime Allowance, and changes to Annual Allowance tapering
According to HMRC, pension tax relief cost the Treasury over £50 billion in 2022–23. It remains one of the most generous tax breaks available, but only if used wisely.
Your Investments Are Managed to Support Your Long-Term Goals
Your pension is not just a savings pot – it’s an investment in your future lifestyle. How that money is invested over time is crucial in determining whether you can achieve your retirement goals.
At Ifamax, we take a strategic, long-term approach. Your investment portfolio is aligned with your goals, risk appetite, and time to retirement, and is reviewed regularly to stay on track.
Whether you're building wealth or drawing income, we ensure your pension is working as hard as it can for you.
You Avoid Mistakes That Could Cost You Thousands
Our advisers help you steer clear of common pension pitfalls, such as:
Accessing your pension too early, triggering large tax charges or diminishing your income
Exceeding annual allowances, which can result in 45% tax charges on the excess
Transferring from a defined benefit scheme without understanding the guaranteed income, you may be giving up
Falling for pension scams – Action Fraud reported over £26m lost to pension fraud between 2017 and 2022
Overlooking guaranteed annuity rates or valuable employer-linked benefits
Financial mistakes in retirement are often irreversible. With expert guidance, you can make confident, informed choices.
When’s the Right Time to Get Pension Advice?
The simple answer is: as early as possible.
Professional advice can make a meaningful difference if you’re starting your career, approaching retirement, or already drawing a pension. The earlier you begin, the more options you have – and the more time your money has to grow.
If you’d like to explore your pension options, ask questions, or understand what’s possible, book a free consultation with one of our advisers today. We’ll get in touch to schedule a time that works for you.
Risk warning
This article is distributed for educational purposes only and should not be considered investment advice or an offer of any security for sale. This article contains the opinions of the author but not necessarily the Firm and does not represent a recommendation of any particular security, strategy, or investment product. Reference to specific products is made only to help make educational points and does not constitute any form or recommendation or advice. Information contained herein has been obtained from sources believed to be reliable but is not guaranteed.