Page 38 - Eye153

dronfield EYE
Homes dig for victory!
E LDERLY residents at both The Green and The Callywhite banded together to
celebrate VE Day with the ‘Big Dig’.
Together with staff, friends and family members, they rolled up their sleeves, put on their gardening
gloves and got stuck into sprucing up the garden, getting it ready for summer.
Sarah Moulton, home manager for both properties, said: "It's been great to see so many people getting involved and getting out into the garden. Some residents that don't normally like to leave their room have been inspired to join the celebrations and get out into the fresh air."
The day was certainly enhanced by glorious weather. One resident commented: "I can't
remember the last time it was so sunny! It's the perfect way to remember the good old days!"
There were plenty of wartime stories to share and many of the residents found that they made connections with others in the home that they had not realised were there before.
Deepak Jaiswal, home proprietor added: "This has been uplifting and inspiring. Staff have worked really hard to make this an unforgettable VE Day celebration. Their costumes look great too!"
Another surprise for the day, was the gifting of a brand new greenhouse from one kind relative.
The 'Big Dig' concluded with a VE Day-themed afternoon tea. Everyone's hard work was well rewarded with a cuppa and a slice of cake.
Fixed pension
income or flexibility...?
Our Services
• Pension Funding
• Income at Retirement
• Investments
• Estate Planning
• Wealth Management
• Cash Flow Forecasting
• Life Insurance
- Critical Illness
- Income Protection
• Business/ Partnership/ Sole Trader
- Protection
- Key Man
- Profit Extraction
To speak to one of our Chartered Financial Planners, please call or e-mail us for an initial consultation.
At Belmayne we seek to improve the lives of our valued clients, through considered financial planning. We understand that each client is unique and therefore offer an individually tailored solution. Our bespoke service, designed for life, fully reflects this.
We appreciate that changes in circumstance, perspective and more often, legislation, means that planning for your future retirement needs to be reviewed regularly. What may have been the right approach a number of years ago now needs further consideration.
Over the last fifty years the pension’s landscape has changed dramatically. Initially, workers built up a final salary/defined benefit (DB) pensions with their sponsoring employers, in the belief that their future retirement income was guaranteed.
These schemes initially operated in an environment of good stock market returns and high interest rates were commonplace, making it easy for the employers to keep their promises to their employees.
That picture has changed dramatically of recent years. People are living much longer than they were fifty years ago and low interest rates and lower investment returns are the norm. Many of these schemes do not have sufficient assets to cover these increasing liabilities and Globalisation and increasing competition has
compounded the problem of increasing longevity of the workforce. A number of these companies are no longer thriving and a number have fallen by the wayside.
An important safety net is available to those members of DB schemes that become insolvent. The Pension Protection Fund (PPF) provides compensation to over 200,000 people. For those members who are already in receipt of their scheme pension, their compensation is 100%, albeit increasing at a reduced rate, in many cases. For active and deferred members of the scheme, compensation is 90% of their benefit, subject to a capped annual pension of £34,655.05, in addition to restrictions on revaluation and income!
For the majority of people, sticking with their scheme benefits will be the right thing for them to do. However, for a number of people, a transfer out of the scheme, before they start to receive their benefits, could be a positive outcome. Many people have various sources of income to draw on in their retirement and the sequence of withdrawals needs proper consideration. The advent of pension freedom, allows for complete control over how and when you take your pension benefits and who ultimately inherits when you die.
As Chartered Financial Planners we, at Belmayne, have the required knowledge and expertise to look at each client’s situation objectively and evaluate it based on its own merits.
38