The world of pensions is a complicated place full of ifs, buts and maybe's. Despite various legislation designed to simplify this sector, it remains one of the most technical aspects of financial planning.

We all know that we should set some of our income aside during our working life to help meet with our retirement requirements, but how much should this be and where should we invest?

At Sterling we believe flexibility is the key to successful retirement planning. With the structure of pension arrangements being controlled by the government we must question whether the flexibility our clients require lies within a product that can be changed at a moments notice.

Individuals who do not benefit from a good quality company pension arrangement should be questioning whether to use a private pension to help fund their retirement or to use alternative saving methods. Unfortunately there is no straightforward answer.

Having said this, we must also consider the tax benefits and the underlying discipline associated to these arrangements and can only provide guidance following a review of your circumstances.