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Your retirement is now approaching, a reward for all those years of hard work. It’s a big milestone in your life and one that you should be looking forward to.
A lot of things in your life will change: how you spend your day, the different roles and responsibilities that you have and, of course, your finances. The idea of retiring can take some getting used to.
But it’s all about planning, and not just for your pension. Preparing for this new phase of your life is an important part of making sure you enjoy it. There are even specialised courses to help you with your retirement plan.
Your finances will make up an essential part of your retirement plan. The key question is how to replace your income. The answer is usually a pension, also called an annuity.
Think about how you spend your time and money now. How will this change when you retire?
The State provides a basic income in retirement as well as some other benefits. You need to take these into account too.
There’s a lot to think about. But we’re here to help you make the best plan possible for your retirement.
And if you’ve still got some time to go until you retire, why not top up your pension pot with some additional voluntary contributions.