Kevin and Marie were in their late 50s when they started planning and are now in their mid 60s. They are married with three grown up children and they retired five years ago.

Summary of assets
Other property
Cash and other available assets
Pension Fund
1. Issues

When they retired five years ago, Kevin and Marie had no real idea of their expenditure requirements. It is fair to say they had a “mixed bag” of pensions with various insurance companies and were mostly invested in with-profits type funds.

Although on paper, they seemed to be wealthy enough, they needed to generate £60K per annum to fund the lifestyle they had become accustomed to. Inheritance tax was also going to be a problem in the future. They were not overly concerned about their children and wanted to concentrate on securing their own future first and foremost.

2. Action we took

We created a lifetime cash flow plan which confirmed that, with a little reorganisation of their finances, they could achieve their income need of £60K per annum, fully inflation proofed.

Their various pension pots and investments were consolidated onto a single ‘platform’. After purchasing annuities with the combined pension pots, a new investment portfolio was designed to meet their future needs.

3. The results

Kevin and Marie continue to enjoy retirement. Their income is secure and their other assets are now invested in line with their goals and their feelings about risk. They are now able to turn their minds to dealing with the inheritance tax issue.

Brunel Capital Partners is a sister company of Pilgrim Financial Planning