Retirement often feels like a distant event—until suddenly, it’s just around the corner. Whether you’re planning to stop work in a few years or you're simply thinking ahead: you only get one shot at getting your retirement plan right.
And the good news? Every step you take now can make a real difference later.
The State Pension: A piece of the puzzle
The age at which you can claim your state pension is gradually increasing. If you’re not sure when you’ll qualify, you can find out here: https://www.gov.uk/state-pension-age
For most people, though, the state pension won’t be enough to fund the lifestyle they want in retirement. That’s why planning ahead is so important.
Thinking beyond the State Pension
Many people want more from retirement than just getting by. Big family holidays, time to travel, or simply enjoying the peace of mind that comes with financial freedom—these are the things we hear most from clients.
To make that happen, it helps to understand your pension options:
State Pension
Workplace Pension – often matched by your employer thanks to auto-enrolment
Personal Pensions and SIPPs (Self-Invested Personal Pensions)
Stakeholder Pensions
Each has its own benefits, and many come with tax advantages. What they all have in common is this: the earlier you start, the better shape you’ll be in when you’re ready to stop working.
What will you need in retirement?
Ask yourself: how much will you want to live on each month once you retire?
Many people underestimate this figure. You might think your spending will drop, but retirement often comes with new costs—holidays, home improvements, and helping out family. Understanding your future needs now will help you make smarter decisions today.
Lost track of pensions?
If you’ve worked for several employers over the years, you may have pensions scattered across different schemes. It’s surprisingly easy to lose track of one or two.
Now’s a great time to check. Review your career history and contact any past pension providers. And if you’ve changed address, make sure they know how to reach you.
Planning for more than just retirement
Your future might include helping your children through university, contributing to weddings, or supporting them with their first home. These “one-off” expenses can have a big impact on your retirement plans—so it’s worth including them in your thinking.
And don’t forget to factor in what you already have—savings, investments, even property. These assets could play a key role in your retirement plan.
You don’t have to go it alone
You don’t need to navigate this on your own. Financial planning can feel overwhelming, but that’s where financial advisers come in.
An Independent Financial Adviser can help you:
Understand your current pension position
Make informed decisions based on your full financial picture
Find a retirement strategy that fits your lifestyle and goals
At the heart of it, planning gives you confidence and control. It’s about creating a life you look forward to—and we’re here to help make that happen.
Ready to take the next step?
Get in touch today for a friendly, no-pressure chat about your retirement plans. We’d love to help you build the future you deserve.
Sources
http://www.pensionawarenessday.com/about-pensions
https://www.moneyadviceservice.org.uk/en/pensions-and-retirement
