A Shropshire business is urging people to give greater consideration about how they plan for their retirement and long term financial future.

PensionLite

Pensionlite, which is located on Stafford Court in Telford, are a firm of Chartered Financial Planners and provide pension advice ranging from transfers to retirement options.

Director Andrew Hawthorne who set up business in 2007 has more than 30 years’ experience in the finance industry.

Mr Hawthorne said: “In today’s economic climate it is more important than ever that people should consider their pension options in order to secure their retirement.”

According to the FCA’s 2017 Financial Lives Survey – 81% of people have not given much thought about how much they should be paying into a pension.

As well as individuals, businesses face financial challenges in 2018.

Mr Hawthorne said: “All businesses face costs that are associated with employee pension schemes.

“No doubt they will be looking closely at these costs and the type of schemes they are operating. This may involve changes to or closure of existing schemes.

“For members to be able to make decisions about what is right for them they will need to get the type of specialist pension services provided by Pensionlite.

“The value of pensions and the income they produce can fall as well as rise, so you may get back less than you invested.”

The impact of Brexit may also be a contributing factor when it comes to pensions.

“The major concerns will surely be the value of the funds held within pension plans as they will need to be looked at far more frequently than is currently the norm.

“In addition, taking into account an individual’s attitude to investment risk and capacity for loss through life changes and personal circumstances will become more important when building or taking pension benefits,” said Mr Hawthorne.

The company recently moved to new premises on Stafford Court after outgrowing their existing accommodation in Halesfield.

Mr Hawthorne said: “The move to a larger office means continued expansion and easy client access to face to face advice in addition to our by post, email and telephone service.”

If you have a question about pensions then you can contact Pensionlite on 01952 279379 or email support@pensionlite.co.uk for more information.

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