Pension Freedom

Pension Freedom was launched by Chancellor George Osborne on 6th April 2015.

 It gave people the opportunity to access their private pension plans without the restrictions previously applied such as the need to purchase an annuity.

With the greater flexibility that Pension Freedom brings, the individual needs to exercise an element of caution so that they do not outlive the pension proceeds.


With the advent of “Flexible Drawdown” the old restrictions on what could be withdrawn have been removed and clients are able to withdraw any amount up to the value of the entire fund.

The following provides a synopsis of the rules that apply to individuals pre and post age 75.

Retirement Options

Traditionally, there used to be only one option when it came to using the funds you had saved for retirement in money purchase pension plans.  You had to use your entire pension fund – less any used to provide tax-free cash – to buy a pension, through the purchase of an annuity.

Over many years, thanks to changes in legislation, more modern and flexible alternatives have appeared – alternatives, which allow you to take control over your future.

By considering each of these options in turn we should be able to identify the most suitable choice for you and ensure that your retirement income can be tailored to meet your needs over the coming years.

The main options that are currently available are as follows:

  • Annuity (Guaranteed, impaired life, enhanced, investment linked and capital protected)
  • Phased Retirement
  • Hybrid Schemes
  • Flexible Income Drawdown (which replaced Capped Income Withdrawal from 6th April 2015)
  • Combined Phased Retirement/Income Drawdown
  • Entire fund access (UFPLS )– Pension Freedom

Allowances & Protection

Family Protection

Investment Management

Estate Planning


The radio operator of RMS Titanic, Jack Phillips, was born and lived in Farncombe, worked in Godalming and at sea. He is famed for remaining at his post, sending repeated distress calls, until the ship sank. Phillips is commemorated in a number of ways around the town, including a section of Godalming Museum, a memorial fountain, cloister and garden walk near the church, and a Wetherspoons-chain public house named in his honour.

We’d love to hear from you