Retirement planning means thinking ahead about how you’ll fund your life after you
stop working. It involves looking at your income sources – such as pensions, savings,
and investments and making sure you’ll have enough to meet your needs and goals.

It’s sensible to start as early as you can. The earlier you begin saving into a pension,
the more time your money has to grow. However, even if you start later, taking action now can still improve your retirement outlook.

The amount you’ll need depends on the lifestyle you’d like and your regular
expenses. Everyone’s situation is different, so it can help to look at your current
spending and what might change when you retire.

Your retirement income might come from a mix of:

• The State Pension
• A workplace pension (if your employer provides one)
• A personal or private pension
• Other savings and investments, such as ISAs
• Property or other assets

Review your pension statements regularly to see how much you’ve built up and what income this could provide. You can also check your State Pension forecast on the GOV.UK website. If you’re unsure, a regulated financial adviser can help you understand your options, but they will not be able to guarantee investment performance.

Inflation means prices generally rise over time, reducing what your money can buy.
It’s important to review your plan regularly to check that your savings and
investments are keeping pace with rising costs.

It’s never too late to make a difference. You might be able to:

• Increase your pension contributions
• Use available tax reliefs
• Delay when you start taking benefits
• Review your spending or other assets

1. Check your current pension savings and any old workplace pensions.
2. Get your State Pension forecast from the government website.
3. Think about when you’d like to retire and the lifestyle you want.
4. Contact us to arrange an initial call if you’d like professional support creating your plan.

Important information:
This information is provided for general guidance only and does not constitute
personal financial advice. The value of investments and any income from them can
fall as well as rise, and you may not get back the amount originally invested. Past
performance is not a reliable indicator of future results.