Is Your Business Your Retirement Pension?

The UK state pension, as a proportion of pre-retirement income, is amongst the lowest in the world and our government is currently looking at stopping the triple lock potentially making it even worse.

If you are within a few years of wanting to retire then these are very relevant facts and, if you are to avoid a severely reduced lifestyle, we suggest you investigate how your business can provide the replacement income after you stop working.

By the way, the current full state pension is around £9100 a year and I am not sure many of us could handle that much of a drop in disposable income.

You could sell the business and live off the interest but with rates historically so low you will need a lot of money to provide much of an income.  You could install managers to run the business and you take out dividends or you could invest the proceeds of the sale into another business that doesn’t need much input from you.

Whatever route you wish to take we say you need to be sorting this out now as your time, and sometimes health, ticks away at an alarming rate.  Ideally you need around five years to achieve the best outcome but there are many improvements you can make even if you only have a couple of years or a few months before you retire.

One more thought, for those of you who might think the state will come through for you – the current system is a giant Ponzi scheme where a decreasing percentage of workers pay their taxes to keep an ever increasing percentage of retired people with pensions.  You know this isn’t going to end well!

Call us for a free, no obligation chat, on how to get your business ready for sale, putting in a new management team or just to make your life easier, and more profitable, whilst making your future retirement a much happier place. Call us – 0797 123201 or email

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