We helped Patricia and Bill get the best retirement income they could.

Updated: Jul 13

Patricia and Bill were in thier mid 50s and close to retirement when they approached Atherton York for financial advice. They had both accumulated a number of small pension pots during their working lives and wanted to get the best retirement income to suit their needs.


They considered themselves to be asset rich but pension poor and were worried about how they could sustain their lifestyle during what they hoped would be a long retirement as well as provide cash gifts to their two children to help them get onto the housing ladder.


Two years prior to our meeting Bill had suffered a minor stroke from which he has made a good recovery. Patricia was in good health and comes from a family with a history of longevity. 

The first meeting with this couple was without obligation but it was clear that significant value could be added by the independent advice we could offer. It was agreed that we would research better rates of retirement income for their various pension assets and see whether Bill’s previous medical condition could result in raised income levels.


Even with greater pension income it was clear that there would still be a large shortfall in their desired income. Therefore discussions also centered on using their accumulated savings and investments to generate a monthly income. 


At the second meeting it was pleasing to report that 7.9% uplift in their pension income levels had been procured by Atherton York through negotiation with the various providers of impaired pension annuities. A shortfall still existed in their income demands and it was agreed that two thirds of their savings would be used for income generation purposes with the remaining one thirdinvested for capital growth purposes.


Since becoming clients, Patricia and Bill now have a better understanding of their income needs and their diversified portfolio of investment assets is now invested 50/50 for income and growth purposes. By regularly using their ISA allowances their investment income is now also entirely tax-free. We have also advised them on their estate planning options and they now make use of annual gifts to their children who have used these funds to establish themselves on the housing ladder. Atherton York also work alongside Patricia and Bill’s lawyer to establish a seamless approach to their professional services. 


The contents of this case study is for information purposes and does not constitute individual advice.

Contact us

Atherton York Limited
10 Station Parade
Cockfosters Road
Barnet
EN4 0DL
Tel: 0208 882 2979

To find out more about the services we offer or for a free, initial no obligation meeting please call 0208 882 2979 or email info@athertonyork.co.uk or use the contact form below.

Our office is on the right next to the Blue Olive restaurant as you drive along the high street heading north towards the M25. There is pay and display parking right outside the front door and we have disabled access.

 

We are also a 5 minutes walk from Cockfosters Tube Station which is on the Piccadilly line. Turn left when you exit the tube and walk down the road, you will see us in the first main parade of shops on the left. The nearest bus stops are outside the tube for the 299 and 298.

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Atherton York Limited, Registered in England and Wales, Number: 8448380, Registered Address: 10 Station Parade, Cockfosters Road, Barnet EN4 0DL. Atherton York Limited is authorised and regulated by the Financial Conduct Authority. FCA Register Number: 740345. The information contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers based in the UK.

The Financial Ombudsman Service is available to sort out individual complaints that clients and financial services businesses aren't able to resolve themselves. To contact the Financial Ombudsman Service please visit www.financial-ombudsman.org.uk

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