Tax efficiencies make the core of our solutions

We know pensions can be a complex area to navigate so our expertise will help you to find the most efficient ways to invest, to understand the various options at retirement, to follow government legislation and manage your income post-retirement. Contact our team today to find out how we can help you take that first step. The sooner you take action, the better your money can work for you.

Planning for the future

Nobody can predict the future, but one thing you can be sure of is, the sooner you start saving for a pension, the more financially secure your future is likely to be. At Macbeth Scott & Co Life and Pension Services we specialise in working with individuals, helping you to prepare a pension arrangement to work towards your anticipated living costs.

But what about the state pension?

The state pension is designed to ensure you have a regular income once you have finished working. The rules for state pension, particularly the age of retirement, are changing and may do so again in the future.  It is unlikely that an income solely from the state pension will be enough to sustain the lifestyle you would like to enjoy. It is highly recommended that you save for yourself, in order to secure an income in additional to that provided by the state.

I’m OK, I’m in a workplace pension scheme.

As people are living longer, there is an increased risk that they will outlive their savings. Even if you are in employment and paying into a workplace pension, it can be beneficial to set up a personal pension as well, or increase your level of contributions. Macbeth Scott & Co Life and Pensions will help find a strategy that aims to ensure you have saved enough to cover your living costs in later life, so you can be confident about the years to come.


As the time approaches to access your pension, the right advice can make a big difference. There is more freedom than ever in how you choose to use your pension pot, but making sure you have a reliable and tax-efficient income throughout your retirement is paramount.

Whether you decide to purchase an annuity, drawdown a percentage of your pension fund or draw your whole pot as a cash lump sum, Macbeth Scott & Co Life and Pensions can explain the tax implications and help find a solution that works for you.


Flexi Access Drawdown

This option was introduced in April 2015 and provides a tax-free cash lump sum (usually up to 25%) from their pension pot, and then, regularly or as and when required, a taxable income without the need to purchase an annuity policy. Your fund continues to grow through investment, and does not tie you down in a contract.  Should you die leaving funds in your Drawdown contract, the full amount can be passed to your beneficiaries directly without falling into your Estate.



An annuity is a way of ensuring you have a guaranteed income for the rest of your life, no matter how long you live. It also means your income is protected against inflation, affords little or no investment risk, and can provide an income to other family members after your death. At Macbeth Scott & Co Life and Pensions we take time to find the right annuity for your circumstances in order to maximise your income.

A conventional annuity contract is the standard package that many people purchase with their retirement fund.  Additional benefits can be added to the contract such as inflation-linked increases, or spouse’s benefits; but these will incur additional costs which will affect your initial level of income.

Depending on your health and lifestyle you may be able to purchase an enhanced annuity which will give a higher rate of return, indeed contracts may offer up to 30% more income than a standard annuity.

You may also be able to take advantage of the open market option to purchase an annuity. This means you have the freedom to explore the entire market to find a contract which, usually, yields a higher annual return than staying with your existing provider.

The income you receive in an annuity is set for life so it is crucial that you receive the right advice before entering into a contract. The team at Macbeth Scott & Co Life and Pension services has many years of experience in advising clients on annuities. Do get in touch to find out how we can help you today.



Specialist advice from Macbeth Scott & Co Life and Pensions can help you to use your investments to achieve your income requirements in retirement.


Macbeth Scott & Co Life and Pension Services Limited is authorised and regulated by the Financial Conduct Authority.   You can find Macbeth Scott & Co Life and Pension Services Limited on the FCA register at

The guidance and/or advice contained in this website is subject to the UK regulatory regime and is therefore restricted to consumers based in the UK.  The FCA does not regulate tax or estate planning.  Please note that the value of investments may go down as well as up and investors may get back less than they invest.  Where these pages refer to investment performance it should be remembered that past performance is not a reliable indicator of future performance.

The Financial Ombudsman Service (FOS) is an agency for arbitrating on unresolved complaints between regulated firms and their clients.  Full details can be found at

Macbeth Scott & Co Life and Pension Services Limited is registered in England & Wales. Company number: 01144365. Registered Office: 3 New Road, Kendal, Cumbria, LA9 4AY.