Dales Independent Financial advisers - Newark

Pensions are, of course, designed to enable you to save sufficient money to live comfortably after you have retired from work. There are many different 'tools' used to save for retirement and the taxation and investment elements of pensions can appear baffling. We specialise in explaining, recommending and monitoring pensions for you.

Pensions are a tax efficient way to enable you to save sufficient money to live comfortably after you have stopped work, in later life. However, over time you may have accumulated several pensions. Indeed, you may have many individual pensions from various employers or personal schemes - especially now that workplace pensions are compulsory.

In essence they are a simple product, with a few options. You amass a sum of money throughout your working life usually via a pension, then traditionally when you choose to retire you take your sum of money to a life company and ask "How much income are you going to guarantee to pay me for the rest of my life, no matter how long I live?"

Also known as flexible access pensions, income drawdown puts you in control of your pension pot. So is it right for you? If you're approaching retirement you might be thinking about how to make the best use of your pension. Flexible access is an option that allows you to withdraw as much or as little from your pot as you like, when you like.

So why save money? There are many reasons to save for the future - perhaps for something special? Or perhaps to be sure that when we really need something we have the funds to acquire it, without taking on debt? Whether you place your money in a piggy bank, or in a multinational investment house, our aims are broadly the same; to provide for our future needs, and to protect ourselves against unexpected causes of expenditure. When planning your finances, it is important to distinguish the difference between savings and investments.