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+44 208 642 3899



Office hours

Office hours 9 am to 5.30 pm

Monday to Friday

Our address

Formula Ltd/Clairville York Ltd

22-34 High Street





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Formula Ltd is registered in England and Wales No. 5294357. Formula Ltd and Clairville York are authorised and regulated by the Financial Conduct Authority.

Retirement planning



Some of the most tax-advantageous financial planning in the UK revolves around retirement planning, and it should be an early consideration for the financially astute.  There is increasing media coverage of how we are all living longer and the erosion of state and private pension provision; it has never been more important to save towards our retirement.  Consider this – you may spend longer in retirement than you will working; are you prepared for this?  Would it be useful to know your options?

There are fantastic tax reliefs available on retirement savings; for most people the tax relief is either 20% (for basic rate taxpayers) or 40% (for high rate taxpayers) but there is the further possibility of 45% for high earners.  And that is before using Salary Exchange, which can further increase the tax relief available to employees – including up to 67% relief for people caught in the tax trap earnings of £100,000 to £120,000.  Formula are experts at this so please ask us how you can benefit.

Successive governments have regularly changed rules on pension contributions, and it is fair to say that only an expert can fully understand how to make the most of them, and help you avoid big tax penalties for getting it wrong.  For instance, the rules allowing you to possibly carry forward unused tax relief can be highly beneficial, but the conditions are complex.


Even if you cannot afford to save more for your retirement, surely it is worth knowing: if your pension is a good one? if the charges be reduced? if the fund growing as best it can for the risk you are prepared to take?  Advising on all aspects of pensions requires a specialist qualification that only a minority of advisers have; Formula Ltd has it.  Please ask about our fixed price retirement planning sessions.



If you only take professional financial advice once in your life, surely it should be at retirement, a time when you may make irrevokable decisions that have a major impact on the quality of your life for many years?  To add to this, the government has proposed revolutionary rules on pension "liberation" which may take effect from April 2015, and everyone affected should understand them. 

You have a lot more choices now with your pension fund; for instance, you no longer have to purchase an annuity at retirement, giving you the option to drawdown money directly from your pension fund instead.  Such Pension Drawdown can be a very flexible way to draw benefits, with the possibility of a lump sum left to your beneficiaries when you die.

However, annuities are still very popular, and if you choose this route you need an independent adviser like Formula to ensure that the benefits you get paid are the best possible.  And if you have health issues, or smoke, you may be able to receive a considerable increase on your annuity pension income because we will do a whole-of-market survey for you.


More than ever, professional advice on pensions is essential, and Formula can help you maximise your benefits from the rules in place (and proposed), comply with the complex rules, and avoid the high penalties of making a mistake.

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