Garrett Harbron: Advice on getting retirement spending in (the right) order

'Forewarned is forearmed'

clock • 5 min read

Retiring clients should be made aware that spending savings in the right order can make a huge difference to their finances, writes Garrett Harbon

As more and more people retire with defined contribution (DC) pensions, it is increasingly important that they get good advice on the most tax-efficient way to draw down their various retirement "pots". These pots are likely to include not just pensions, but ISAs (individual savings accounts) and taxable savings accounts or investment portfolios. Our research suggests that choosing the most tax-efficient way to spend these accounts can add years and/or tens of thousands of pounds to a retirement income. The first question a retiree should settle is how to spend their DC pension. We te...

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