Destination Retirement
Sky has partnered with HUB Financial Solutions to bring you Destination Retirement, a retirement planning and advice service. If you choose to use it, this service helps you prepare for retirement by considering your Sky Pension Plan and any other retirement savings or investments you have as a single big-picture plan. Combine this information with your ‘must haves’ and ‘wishes’ for retirement (for example, any bills you’ll need to pay, holidays you’ll likely take, or home improvements you want to make) and Destination Retirement will give you a clear picture of how far your finances could stretch. If you’re aged 40 or above, you can use the Retirement Planner to create a free retirement plan and model different scenarios to forecast your potential life after work. The Destination Retirement brochure provides further details.
As you approach retirement, Destination Retirement can then help you put that plan into action through the Retirement Income Advice service. Destination Retirement can help you turn your retirement savings into monthly, tax-efficient income, to help maximise the money you have in your life after work. All while providing ongoing support to you throughout your retirement life. The ongoing fees and charges that will apply if you put your plan into action will be made clear to you before you commit.
As with any investment your capital is at risk. This means your investments can go down as well as up.
Ready to start planning?
Visit https://www.hubfinancialsolutions.co.uk/Sky today.
When you’re ready, click ‘Register to start your journey’ and complete the simple registration form to set up your account. (The Destination Retirement code under ‘Employer Reference’ should automatically populate but, in case it doesn’t, it’s SKYDR23.)
Pension Wise – MoneyHelper
If you’re aged 55 or over and have a UK-based workplace or private pension pot that you've paid into that you want to access for the first time or transfer elsewhere, you will now be offered guidance from Pension Wise, to talk through your options. Pension Wise is a free, impartial service which is part of the broader Government-sponsored service called MoneyHelper. At your Pension Wise appointment, their pensions specialists will explain how each option works and the other things you need to think about. They’ll also explain how each option is taxed and provide information about how to look out for scams. This will help you make an informed decision about taking money from your pension pots. Please note that Pension Wise and MoneyHelper are only able to provide guidance, which does not constitute regulated financial advice.
If you are seeking to transfer-out of the Sky Pension Plan, please note that this is a highly regulated process and, in certain circumstances, may require you to have a mandatory appointment with MoneyHelper to complete your transfer. Gallagher (formerly Buck) will advise you if this is necessary.
Need help finding an independent financial adviser?
You’re not obliged to use Destination Retirement to help you plan for your retirement. Instead you can seek your own advice from an independent financial adviser (IFA). Money Helper includes some useful guidance on how you can find an IFA local to you. For further information, go to https://www.moneyhelper.org.uk/en/getting-help-and-advice/financial-advisers/choosing-a-financial-adviser