Thinking about retirement
Whether this is a long way off or just around the corner, planning for your retirement will help to ensure that you’re prepared when the time comes. Some people may be worried that they won’t be able to achieve their retirement goals because of a lack of planning so it is a good idea to start thinking about this at the earliest possible stage.
Age UK has some useful information and a flowchart to guide you through the things you might need to consider whether you’re planning 10 years or 6 months ahead.
Money Advice Service has information about managing your money and planning ahead for retirement.
Your employer may offer sessions ahead of your retirement. Some employers allow you to work flexibly to phase in your retirement.
You may wish to seek professional advice from a qualified independent financial adviser when considering your financial options.
When can I retire?
A pension is a way to save money for later life. This is usually a pension from the government or from a pension scheme that you or your employer pays into.
The Pensions Advisory Service is funded by the Department for Work and Pensions and provides free and independent information and guidance on pension matters.
Find out more about planning your retirement income.
Use the Money Advice Service’s pension calculator.
You may wish to speak to a financial adviser about your options. Find out more about seeking financial advice and making decisions.
Find out more about National Insurance and tax after State Pension age and tax when you get a pension.
- The Society of Later Life Advisers (SOLLA): Helps people find independent financial advisers in their area who specialise in the financial needs of older people.
- The Financial Conduct Authority: Holds a register of authorised financial advisers.
- The Money Advice Service: As a useful source of information although it cannot offer advice.
- Moving or retiring abroad: Find out more information about benefits, pensions and tax.