Planning for retirement has become one of the most complex and confusing areas of financial planning. The increasing number of options available means that informed, unbiased independent financial advice is even more important when navigating the pensions minefield.

If you would like to review your current position, whether you are a long way off from retiring, are nearing retirement or have already retired, we can help you assess whether you are really getting the most out of your pension planning.

For occupational pensions, the current ceiling on earnings that can be pensioned is capped at £102,000 for the tax year 2004/05. The maximum amount an employee can pay into an occupational pension scheme is 15 per cent of capped earnings, regardless of age. Capped earnings do not normally apply to those members who joined their current employer's occupational pension scheme before 1 June 1989 nor where contributions, within one financial year, are solely being made to a Retirement Annuity contract.

For personal pensions/stakeholder pensions/retirement annuities, the following contribution limits apply.

Contribution limits for tax year 2004/05

(or £3,600 per annum if greater for personal/stakeholder pensions)

Levels, and bases of, and reliefs from taxation are subject to change.