Retirement planning - is it time to review your pension?
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Are you all set for retirement?
FOR some of us retirement can’t come soon enough and we’re looking forward to the day that we can say goodbye to the daily grind; indeed, many will have started the big countdown years ago! Others, however, may be facing their retirement with dread and a fear of the unknown. How will you provide for yourself when your working life ends and your leisure years begin? It’s well known that we are all living longer, so whether you’re awaiting retirement with dread or joy, it’s likely to be a longer retirement than that enjoyed by previous generations. This means of course that you’ll need to build up a larger amount of money to provide for your retirement, or stay at work for longer. Retirement planning is not something that you can think about once and the earlier you start to think about it the better. If you want to maintain your current lifestyle in retirement you’ll need to think ahead and ask yourself how much money you’ll need when you retire and how you’re going to build that pot of money up for when you retire and what kind of lifestyle do you need to fund? Will you work part-time? Do long holidays await you? Do you plan to do all of the DIY jobs you’ve neglected or is the golf course calling? Can you remember the last time you had a pension review? If it’s been some years since your last review you may be in a position where your current pension charges and fees are uncompetitive by today’s standards, or there could even be pensions that you have forgotten about or lost track of.
Is this all sounding familiar?
Throughout their lifetime, workers tend to pass through the books of several employers; even with the best of intentions it’s easy to lose track of all of your pension pots. If you still have several years of your working life remaining, the recent introduction of ‘auto-enrollment’ and employer’s legal obligation to provide a pension, could also mean you will build up more pensions going forward.
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When people change jobs they often don’t think about their pension. Frequently, pensions are left behind, and are perhaps still growing, but they’re unlikely to be as productive as they could be. Have you got one, two, three or perhaps more, pensions that are neglected and could be working better for you? Finding these pensions is just one of the services a professional Financial Adviser can help you with.
A financial Adviser can also help you to understand the best way to save your money today to prepare for the life you would like in retirement. If you would like some more information or to arrange a meeting with a Financial Adviser then please do contact us.
Remember, now is the time to take action to ensure you have the funds to do the things you love in your retirement!
Cricket Hill Financial Planning LTD, Unit 8A Maple Estate, Stocks Lane, Barnsley, South Yorkshire S75 2BL
Tel: 01226 323000 | firstname.lastname@example.org | www.retireinyorkshire.co.uk
Retire in Yorkshire is a marketing and promotional website. We do not give advice but we act as an introducer to a financial advice company based in Yorkshire, which is authorised and regulated by the Financial Conduct Authority. This is a financial promotion. The value of your investment can go up or down.