Paul was concerned with the changes to the Lifetime Allowance and how it would impact him. Audley Wealth was able to calm these fears and suggested a review of his pension would be appropriate.
Following our review, we established that Paul had a number of pensions which could be switched to contracts, which offered increased investment options as well as all options when it came to taking benefits. In addition, the new contracts were more cost-effective so more of Paul’s growth was applied to his pension as opposed to fees.
By having Paul’s pension all in one place, should a future government change the legislation he can easily take up the benefits if this is needed.