Carl and Sally came to us for a pension review. Carl was 61 at the time and Sally was 59. Carl was employed by a small IT company and Sally worked part-time at a supermarket. Carl had worked for the same company for the last 22 years and had, until recently, enjoyed his work. However, the company had recently been purchased by a larger firm. Carl felt that he had much less control over his work since the takeover and spent more of his time fighting with the management structure than actually doing the work he enjoyed.
Their two children were financially independent, and both married with children of their own. Carl had already requested a State Pension forecast and knew that he had five years until his was due and seven years until Sally’s was due. His plan was to cut expenses back to a minimum and contribute as much as possible into one of his pensions for the next two years, at which point he might be able to retire early. He wanted us to see whether it made sense to put his three personal pension pots together and, if so, which pension should he choose and how much risk should he take.
First, we examined Carl and Sally’s spending now, as well as how it would likely look in retirement.
Neither of them were big spenders. Additionally, their family all lived close by and their dream retirement consisted of pottering around the garden, spending time with the grandchildren, babysitting them regularly, a modest European holiday once a year and Carl wanted to spend a day a week fishing at different lakes across the UK. We put this together with their normal daily expenditure and created a spending plan they were both very happy with.
Next, we looked at Carl’s pensions. He had already accumulated a decent pot of money, currently spread over two main pensions and a small pot from years ago. We knew the level of income needed to meet their spending plan and we knew how much State Pension they would be getting and when. Once we assessed the sustainability of the required withdrawals, it quickly became clear that they could actually afford to retire now.
Carl was over the moon and handed his notice in the very next day. Sally continues to work as she likes the social aspect, although she works fewer hours than she used to. Her continued employment means they have to take less from their pension, so their plan is even more secure.
We switched Carl’s pension into a single pension pot with a simple investment strategy.
We meet with Carl and Sally each year to continually monitor the withdrawal strategy to ensure they can concentrate on enjoying themselves without fear of running out of money.
“As a freelance photographer, finances in life can be precarious. Never able or inclined to delve into the world of stock markets or areas other than the standard offer from banks and building societies. I was recommended to Annetts and Orchard, who around 2004 started to advise me and handle any monies that I had available. We are not talking about vast sums, so don't be put off. Their professional but friendly way of doing business has kept me on a very happy footing since and never once have I felt badly advised - not the case with some friends of mine. Always with their client in mind my portfolio of funds has grown at a rate far higher than any individual could hope for. Retirement with a solid financial background is an area I could only have dreamt of. I would have no hesitation in recommending Annetts & Orchard, the sooner you start the better life will be.”
A client since 2004
“I would like to thank Annets & Orchard for helping me review my pension policies and for your honest advice of how I should reinvest my ISA when it reaches maturity. I thank you especially for helping to rearrange my Critical Illness and Life Assurance policy. You made a very sensitive subject a lot less painless with your professionalism, friendliness and understanding of my changed circumstances. You also have a good sense of humour, which helps as most of the things we had to sort through were quite heavy going for me.”
A client since 2013
“I have used Annetts & Orchard for the last five years. During this time, they have assisted me with a first-time mortgage and more recently a mortgage for my new house, as well as home insurance for both. House buying is extremely stressful, but I felt that this was one less thing I needed to worry about. Annetts & Orchard found the best product for me and the whole process from start to finish was as seamless as possible. I would not hesitate in engaging their services again in the future.”
A client since 2010
“I have been with Annetts & Orchard since 2008: I needed mortgage advice, and they were recommended to me by a trusted colleague. As my personal circumstances developed and my financial needs have changed over the years, the team have advised me on a range of pension and investment issues, and I feel I now have a solid financial plan in place. What I value is how Annetts & Orchard take the time to understand my needs and explore different solutions with me - I feel in control of my financial future but with the support and guidance of experts.”
Dr P Hornsby, Wokingham
A client since 2008
“I wanted to send a private message to say that, for what it is worth, I have worked for hundreds of companies over the last seven years whilst here - the biggest compliment I can give you and your company is that if someone came to me to ask for a recommended company for advice, you would be top of the list by a long, long way.”
A professional connection
“I was recommended Annetts & Orchard by a colleague who found their helpful and professional approach both useful and reassuring. I have certainly also found this to be the case. Looking to invest savings while ensuring a safe future for my family, I find that the team make uncomplicated and appropriate suggestions. They are never pushy and most importantly listen. I am very comfortable leaving them to handle my investment portfolio.”
A client since 1998
“My husband had just died aged 50 and I required a sympathetic and professional approach. I couldn't have asked for a better team. They were knowledgeable, efficient and kind. Without a doubt they helped reassure me and reduced my stress. Since 2011, the team have been attentive and willing to discuss any concerns I may have. The investment choices have done well for me. I would highly recommend them to anyone requiring financial advice.”
A client since 2011
"Annetts & Orchard have provided excellent financial advice and support to my 97-year-old aunt for some time. By providing sound financial help and making the investments on our behalf, we were freed from the worry and burden of decision making. I can therefore thoroughly recommend Annetts & Orchard, as I have seen for myself the excellent service they have provided to my aunt over a number of years."
A client since 2008
Annetts & Orchard is a trading name of Annetts & Orchard Ltd. We are authorised and regulated by the Financial Conduct Authority. You can find Annetts & Orchard Ltd on the FCA register (FCA number 820272) by clicking here. Registered in England & Wales (11503291).
Please note that the value of investments may go down as well as up and investors may get back less than they invest. Where these pages refer to investment performance it should be remembered that past performance is not a reliable indicator of future performance. The Financial Ombudsman Service (FOS) is an agency for arbitrating on unresolved complaints between regulated firms and their clients. Full details can be found by clicking here.
The guidance and/or advice contained in this website is subject to the UK regulatory regime and is therefore restricted to consumers based in the UK. The FCA does not regulate tax or estate planning.