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Published on : March 14, 2018 15:04

How Pension Planning Can Turn Pipe Dreams Into Reality

How Pension Planning Can Turn Pipe Dreams Into Reality

People may wish for a good retirement but failing to plan just makes it wishful thinking. While some may consider retirement to be exciting in itself, you also need to consider how to fund that dream retirement.

Retirement is a long term goal but what is long term?

You are no longer investing until your preferred retirement date, as your funds can remain invested in retirement, with “Pension Freedoms”, and provide totally flexible access in the process.

Auto enrolment in the workplace have around a third of membership being aged under 30. This means investment horizons can be up to 50 or 60 years, with increased life expectancy and longevity.

Current life expectancy for a male is 79.4 years and 83.4 years for a female, however if you are fit and healthy at age 60, you can expect to live a further 30 years.

Final stat: One in three children born today can expect to live to 100!

You can access pension savings at age 55 & you may wish to retire at this age, or work part time, or simply utilise your tax free lump sum. But remember, you can expect to still be living well into your 80’s, so your pension has to last.

Retirement planning is key, both pre-retirement and in retirement.

Don’t leave it to chance. Review those old frozen pension plans and devote time to your future.

Have a goal and make a plan.

Would you like to have a free, friendly chat about your pension? Call our pensions expert, Paul Brassington, on 0161 443 4555 today.

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