How many pensions can I consolidate?

There is no legal limit on the number of pensions you can consolidate. Many people accumulate several pensions from different employers over their careers. Consolidating them into a single arrangement can simplify management, reduce costs and give a clearer picture of overall retirement provision. A financial adviser can review whether consolidation is appropriate in your circumstances.

When should I start planning for retirement?

The earlier you begin pension and retirement planning, the more time compound growth has to work. However, meaningful planning is valuable at any age. Those approaching retirement in the next five to ten years benefit particularly from cash flow modelling and income sequencing advice. Those who have already retired can benefit from drawdown strategy reviews, particularly in light of the Finance Act 2026 changes.

What is the difference between a defined benefit and a defined contribution pension?

A defined benefit (DB) pension pays a guaranteed income in retirement based on your salary and years of service. A defined contribution (DC) pension builds a pot based on contributions and investment returns, the income it provides in retirement depends on how the pot is drawn. Each type has different implications for retirement planning, death benefits and the Finance Act 2026 pension inheritance tax changes.

How will the Finance Act 2026 affect my pension?

From 6 April 2027, unspent defined contribution pension funds will become subject to inheritance tax for the first time. If you have been drawing from other assets to preserve your pension as a tax-efficient legacy, your strategy may need to be reviewed. The change does not affect the pension income you receive in your lifetime, only what happens to the unspent pot after death.

Pensions & Retirement Planning

This service supports clients who are:

Planning in Your 30s & 40s Mid-Life Planning Business Owners Approaching Retirement In Retirement

Overview

A clearer view of your retirement

Most of us have a vague sense of what we want retirement to look like. Travel a bit more. Work a bit less. Spend more time with family. The harder question is whether the money will actually support that life, and for how long.

We start by looking at what you already have. Old pensions from past jobs, current pension contributions, ISAs, other savings, and any property or business interests that will play a part. We make sense of the whole picture, identify gaps, and build a plan that fits the retirement you actually want.

Whether retirement is decades away, just around the corner, or already underway, the goal is the same: clarity on where you stand, and a plan you can trust.

The State Pension age and rules are set by the government. You can check your State Pension forecast at gov.uk/check-state-pension. For general guidance on pension options, MoneyHelper provides independent information.

How we help

Whether you are working, near retirement or already retired

Most clients fall into one of two camps. The advice for each is different.

For individuals and families

We help people review their existing pensions, work out whether they are saving enough, and plan how to take the income when the time comes. We will show you what your retirement could look like at different ages, and what changes today could mean for the years ahead.

For business owners

Many business owners put their company first and their own retirement second. We help directors and owner-managers build a plan that uses the business sensibly, including pension contributions from the company, and that lines up with how and when you want to step back. Personal and business goals, planned together.

The Financial Conduct Authority does not regulate Wills, Trusts, Tax advice or Cash Flow Planning. Tax treatment depends on individual circumstances and may be subject to change in the future. The value of your investments can go down as well as up, so you could get back less than you invested.

Talk to a retirement specialist

Book a no-obligation conversation. We will talk through where you are now and explore whether we can help.

Book a meeting

Frequently asked questions

What is the pension annual allowance for 2025/26?

The standard annual allowance is £60,000 for the 2025/26 tax year, or 100% of your earnings if lower. Higher earners with adjusted income above £260,000 may have a tapered allowance. Carry forward allows you to use unused allowance from the previous three tax years.

Can I take money from my pension before age 55?

Normally not without a tax penalty, unless you have a protected pension age or are in serious ill health. The minimum pension access age rises from 55 to 57 in April 2028 for most people. Accessing a pension early without qualification can trigger a 55% tax charge on the amount taken.

What happens to my pension when I die?

Currently, defined contribution pensions sit outside your estate for inheritance tax. From April 2027, most unused pensions will come within the IHT net. The way pensions are passed on will depend on the type of pension, the age at death, and your nomination of beneficiaries. Keeping nominations up to date is important.

Should I take an annuity or drawdown?

It depends on your priorities. An annuity provides a guaranteed income for life with no investment risk. Drawdown keeps your pension invested and offers flexibility, but the income is not guaranteed. Many people use a combination. The right answer depends on your other income sources, attitude to risk, health and family circumstances.