How Can I Make the Most of My Money for Later Life?

Pensions are a tax efficient way to make the most of your money, which is particularly helpful as you build towards retirement. However, there are steps and methods of making your money go further outside of the traditional avenues, such as private pensions and buy to let properties. Our blog will help you understand potential ways of generating, and even finding, extra income to fund later life.

Stocks & Shares ISA

Also known as an Investment ISA, Stocks and Shares ISAs are often considered an option for those wishing to retire, or semi-retire, early. The state pension, and some workplace or personal pensions, have an age restriction put on them. This means you could be charged a fee should you wish to withdraw funds early.

Stocks & Shares ISAs allow for investment into the likes of funds, bonds, and shares. All ISAs are a tax-efficient way to grow your capital. However, Stocks & Shares ISAs present the opportunity for higher returns on your money due to a higher level of risk.

At Wellesley, we offer fixed-rate bonds that are ISA eligible. This means you can invest in our bonds via a Wellesley ISA account and can benefit from :

  • An investment that is listed on regulated exchange
  • Tax-free interest*
  • No hidden fees or charges
  • A fixed term and fixed rate investment so you know exactly what you’ll earn and when it will be paid

ISAs are used by some people as a supplementary retirement aid, especially when diversifying an investment portfolio.


Finding lost pensions

In the UK there is estimated to be billions of pounds floating around in lost pension pots. As it becomes increasingly common to change employers throughout a career, it can be difficult to keep tabs on pensions with previous employers.

Even if you believe you have a grasp on all your pension pots, make sure to use the government’s free Pension Tracing Service. Wouldn’t it be a shame to miss out on extra money during your retirement that is rightfully yours? The online service gives results instantly and covers workplace and personal pensions.

If you know the name of a provider you have a pension with, simply get in contact with them and provide:

  • Your National Insurance number
  • The name of the company you worked for
  • The dates you worked at the company
  • A rough date you joined the pension scheme

If you have a previous NHS, teaching, armed forces or civil service pension you can contact the relevant pensions department directly via


SIPP providers

Considered as DIY pensions, self-invested personal pensions allow you to have control over your money. With a traditional personal pension, where you invest your money can be limited to a shorter list of funds – often run by the provider’s own fund managers.

SIPPs tend to give individuals the freedom to invest in whatever they choose for their future. This pension option is typically enjoyed by those who want greater flexibility for their pensions and are happy to accept a higher level of risk compared to the more traditional options available. Some people, to counteract any fluctuations in the market, run a SIPP alongside a regular workplace or personal pension.

Just like an ISA wrapper, SIPPs protect your money from the taxman. This means whatever interest you earn on your capital remains firmly in your pension pot. For the 2020/21 tax year, you can put up to £40,000 into a SIPP if you are earning and £3,600 if you are not earning.


*Tax treatment depends on the individual circumstances of each client and may be subject to change in the future.

Wellesley is the singular name for the following collective of companies, Wellesley Group Limited (09811856), Wellesley & Co Limited (07981279) and Wellesley Finance Plc (08331511). Wellesley Secured Finance Plc was established as a special purpose vehicle for the sole purpose of issuing asset backed securities and is not part of Wellesley Group.

The information contained in this website has been approved as a financial promotion for UK publication by Wellesley & Co Limited (FRN 631197) who is authorised and regulated by the Financial Conduct Authority (FCA). 

Wellesley & Co Limited and Wellesley Finance Plc are registered in England and Wales and their registered office and trading address is at St Albans House, 57/59 Haymarket, London SW1Y 4QX. The registered address for Wellesley Secured Finance Plc is 1 Bartholomew Lane, London, EC2N 2AX.


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