We have been providing financial advice to PCS members since 2007. In the current economic climate it makes sense to have your finances in order. Importantly, we can help you understand how changes in the workplace, amendments to public sector pension schemes and reviews to working practices may affect you. We can also guide you through those times in life when you need to address financial issues – be it looking to buy a property, starting a family, saving for your future or planning for retirement we are here to help.
Receive a no obligation initial consultation
You are entitled to a complimentary, no obligation initial consultation from Lighthouse Group Financial Solutions. One of our qualified advisers will ask you about your circumstances and objectives to establish whether you could benefit from advice. Whatever your stage in life, whatever your priorities and lifestyle, we can help you make the most of your money. Please note, the data captured in this form will be managed by our client services team in our Woodingdean office. From there, your request will be passed onto a local financial adviser in our national business – Lighthouse Financial Advice. Registered in England No. 04795080. Lighthouse Financial Advice Limited is an appointed representative of Lighthouse Advisory Services Limited which is authorised and regulated by the Financial Conduct Authority (FCA registration number 195199). Lighthouse Financial Advice Limited is a wholly owned subsidiary of Lighthouse Group plc.
Our advisers, backed by the extensive knowledge and experience of Lighthouse Group, one of the best-respected financial advice companies in the UK, are able to provide you with advice on all areas of financial planning, including:
- Assurance and protection: so you and your family don’t suffer financially should the worst happen
- Pensions and retirement: taking advantage of the options available to you to enjoy a comfortable retirement
- Savings and investments: putting your spare cash to good use to build and conserve wealth tax-efficiently
- Mortgages: many people pay more than they need to. Are you one of them?
As you would expect from the PCS’s preferred provider of financial advice, we understand how pension schemes work. Our expertise includes the Civil Service and other public sector schemes together with private pensions, and we can explain what provision you already have and how you could supplement this.
- Will your pension scheme provide you with adequate income in retirement?
- Have you considered other tax-efficient ways of boosting your income in retirement?
- Do you have old pension funds, such as AVCs, FSAVCs or private pensions? If so, are they on track to provide the pension you expect?
- Can you afford to retire early? What impact would this have on your pension in later life?
- Should you take a tax-free lump sum?
- Do you need fixed or variable income in retirement?
For more information about the Civil Service Pension scheme click here. (You will be redirected to a third party website, we are not responsible for the content).
Would you benefit from attending a seminar on financial issues such as:
- planning for retirement
- planning for redundancy
- income and wealth preservation
- savings and investments?
As PCS’s approved partner for financial advice we are able to run financial planning seminars for PCS members, in a convenient local venue. Alternatively, you may prefer to hold a surgery, where members book 30-minute, individual, confidential consultations with one of our experienced financial advisers.
Is your job at risk? Act now to secure your financial future. What action can you take to secure your financial position if your job is at risk, or you are considering accepting a voluntary severance?
Here are some of the things you should consider:
- Work out how much you spend a month. Remember to include your mortgage repayments, insurance, council tax and other bills. Make sure you include any direct debits and standing orders. What is the shortfall between your total expenditure and any income you may receive when you are out of work? Can you reduce your outgoings?
- Do you have mortgage payment protection insurance? If so can you claim on it? Should you ask to reduce your monthly repayments or ask for a repayment holiday? You should tell your mortgage lender about your situation, as they are likely to be more flexible if you do need to reduce your repayments.
- Do you have any other loans? If so, what can you do to reduce them or pay them off?
- Have you (or will you) receive a lump sum payment as part of your voluntary severance package? If so, how can you make the most of it? What should your priorities be?
- Should you invest part or all of the lump sum?
- Will you be able to claim benefits? Any savings, including your lump sum payment, could affect how much you receive.
- Is early retirement an option? However, you need to make sure that you will have enough retirement income to live on comfortably, now and in the future.
- Have you lost valuable benefits such as life assurance or private medical cover? If you have, you may want to consider replacing them. Do you want this if you are trying to reduce costs?
- You should review any savings and investments you already have to see whether they could produce much-needed income or simply to make sure they are invested in line with your needs and attitude to risk.
- How can you generate more income? Could you rent out a room in your home? Any rental income could be tax-free.
- What about your pension arrangements. Contributions from your previous employer will cease and you will probably want to stop any additional contributions you usually make, at least until you get another job.
Important Information: The value of your investments can go down as well as up, so you could get less than you invested. The value of your income from your investment can go down as well as up. Tax advice which contains no investment element is not regulated by the Financial Conduct Authority. A pension is a long term investment. The fund value may fluctuate and go down. Your eventual income may depend upon the size of the fund at retirement, future interest rates and tax legislation.