Are you 55 years plus? Do you see Retirement Horizons?
Even with your retirement finally coming into view on the horizon, it’s still not too late to review your pension funds. A Pension HealthCheck can ensure that your pensions are still aiming to deliver your desired retirement lifestyle. There are a number of options to secure the retirement you deserve – so making the right choices now could provide you with a comfortable and enjoyable retirement.
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Key considerations at this life stage
Will you become debt free in retirement? Ensuring you're debt free is an important consideration when reviewing your pension. Without your regular working income, you may struggle to pay your mortgage or any outstanding loans you currently have. A no obligation Pension HealthCheck can identify if there are any funding gaps between your retirement income and debt outlay.
Protecting your pension against any last-minute slumps or crashes in the stock market could be the difference between a basic or comfortable retirement. Selecting a suitable policy that can offer greater security while still giving you a solid return could be ideal - especially as you move closer to retirement.
Just because your pension funds are maturing, it doesn't mean that they should stop performing. It's not too late to review their performance – and don’t forget, changes in your personal circumstances may substantially affect which option is right for you. You will potentially qualify for a state pension, but increasing your potential monthly retirement income with a better performing private pension could make all the difference to your lifestyle.
How can Pension Works help you?
As you climb the career ladder, it's likely that some businesses that employed you had different Pension Policies that you paid into. Pension Works can find, and HealthCheck your current policies, offering to advise on how they are performing and if necessary offer alternative options for your consideration.
As impartial, independent financial advisers, Pension Works will complete a full fact find including an attitude to risk profile regarding your current and future retirement plans. We do this to understand your retirement goals and provide an independent report to you. The fact find may help with your current financial planning as well as your pension provision.
Planning for your retirement earlier can help you achieve your desired future lifestyle. Pension Works will deliver an outlook on what you could expect from your current policy(s) and if there are suitable pension policies that could improve this.
What life stage you're at matters
As you progress through your working career, your life stage can have a profound effect on your future retirement and pension provision. Generally, people's plans and attitudes change as they get older and your pension policy should reflect this.