Liz WoodPersonal Wealth Management
Liz Wood is a senior executive with Nestlé and, working for a large multinational company with very good pension provisions, Liz had not been concerned about retirement planning until she received information that her scheme was being altered.
As is often the case with large pension providers, it was difficult to gauge what effect these changes would have on Liz’s retirement aspirations.
Prior to appointing Mattioli Woods, Liz had been given very little pension and personal investment advice. Following a review of the scheme, it became apparent that the changes were in fact minimal and her position had not been materially altered. However, the review process itself raised a number of interesting issues around Liz’s retirement strategy, most notably the ability to retire earlier than she had previously planned. Indeed, it was only by completely understanding her entitlements that a wider plan could be considered.
During the last three years Liz has been made aware of a number of investment opportunities designed to create a healthier income in retirement. This has resulted in the construction of a balanced personal portfolio of investments which, although being immediately accessible should Liz require them, can also be used to tax efficiently bolster her income should she choose to retire earlier than planned under her final salary scheme.
Like many other clients, Liz had made very little use of her annual capital gains allowance, whereby a portfolio of well-managed equities can be utilised to increase income on a tax-free basis, in addition to a secure income from commercial property syndicates. This whole process has given Liz the opportunity to gain additional flexibility and control over her retirement and personal aspirations, despite being in a final salary scheme with relatively rigid rules.