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Start saving early and often

What kind of lifestyle do you want to maintain?

How much you’ll need to retire depends on a number of factors, including how long you expect to live in retirement and what kind of lifestyle you want to maintain.

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Embracing early retirement

‘Enjoy more freedom while still being physically fit and well enough to enjoy it’

The traditional retirement age is no longer what it used to be. More and more people are choosing to retire early, and there are a number of reasons why this is becoming increasingly popular.

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Cash may not be king

Choosing what to do with your pension is a big decision

If you’ve been saving into a defined contribution pension (sometimes called ‘money purchase’) during your working life, from age 55 (age 57 in 2028) you need to decide what to do with the money you’ve saved towards your pension when you eventually decide to retire.

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Combining multiple pension pots into one single pot

Simplify your finances and make it easier to keep track of your retirement savings

If you have ever changed jobs, moved homes or had a company you worked for change ownership or close down, then you know how easy it is to lose touch with your pension savings provider. This can happen for a variety of reasons, but it often means that your savings are no longer as secure as they could be.

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Accumulating a nest egg

Why saving enough for retirement is challenging for many people

One of the biggest financial challenges people face is saving enough money for retirement. There are a number of factors that can make this difficult, such as low income, high living costs and unexpected expenses.

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Golden years

Pensions represent our biggest single source of private wealth

As we live longer and fewer of us have the security of a final salary pension, it’s more important than ever to think about our retirement income.

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‘Home is my Pension’ generation

People using property to support their retirement lifestyle

The significant increase in property prices in recent years has likely shifted many people’s expectations about the role property wealth will eventually play in supporting their retirement. With people spending longer in retirement, one of the challenges that many need to overcome is how to fund it and how to meet the financial demands they may face in later life, such as the cost of long-term care.

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Developing a robust retirement plan

How much it will cost and how you are going to pay for it?

People planning for retirement should think hard about what they want to do when they eventually stop work. It is helpful to have a good idea of the lifestyle you want, how much it will cost and how you are going to pay for it.

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Safeguarding your pension

Providing an income for your loved ones to enjoy, long after you are gone

If you’ve spent a lifetime saving for retirement, you’d probably like any remaining money to go to a loved one after your death. But whether pension benefits are payable to a beneficiary, and how they’ll receive them, is dependent on the type of pension you’ve chosen and how you’ve accessed it in your retirement.

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Is retirement the right choice for you?

General guidelines that can help you determine whether you’re ready to retire

One of the most difficult decisions you’ll ever have to make is when to retire. It’s a personal choice that depends on many factors, both financial and non-financial. There’s no single right answer, but there are some key things to consider that can help you decide if retirement is the right choice for you.

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