SJP Could your business be your pension?
It can be easy to assume that your business will make enough money for a comfortable retirement – but what if things don’t go to plan? If you are relying entirely on your company to provide your retirement income –and it fails, or doesn’t perform as well as you’d hoped, you could be left with some difficult decisions. We can help you to minimise any risk by helping you to consider other ways to save for retirement.
Business exits can be unpredictable and while you may feel that your business is performing well right now, there are many external factors that could impact its value by the time you come to retire. Changing markets, sector decline, difficulties with supply chains and other unexpected global events can be beyond your control.
A pension will ensure you can fund the retirement you want and will help you to spread risk away from your business. Pensions can be a smart, tax-efficient way of taking profits from your business whilst saving for the future. Utilising the very generous tax relief on pension contributions, our financial advisers will take a 360° review of your business and personal finances to help you consider your options.
If you are in a position where your business has value now, and you are thinking of exiting within the next 5 years, we can help you plan your exit strategy* and develop a plan to ensure you are able to realise the capital you need to have the retirement you want.
The value of an investment with St. James's Place will be directly linked to the performance of the funds selected and may fall as well as rise. You may get back less than the amount invested.
The levels and bases of taxation and reliefs from taxation can change at any time. Tax relief is dependent on individual circumstances
*Please note that advice with regard to exit strategy planning may involve the referral to a service that is separate and distinct to those offered by St. James's Place.
