Our retirement planning section is the place to find out more about topics such as continuing to work whilst taking a pension, reducing hours in the build up to retirement and also ill health retirement. You can also find out more about buying an annuity.
PREPARING FOR RETIREMENT
Here's what to consider prioritising in your 20s to ensure you're on track for a happy retirement
Find out the financial milestones you may want to prioritise during your 30s and the pension landscape of this generation.
Find out the financial milestones you may want to prioritise during your 40s and the pension landscape for this generation.
Find out how to start planning for your retirement in your 50s.
Take a look at our checklist to help make your retirement plan.
Find out what drawdown fees your pension provider may charge you when you access your pension, including administration and withdrawal fees.
Pension liberation is a scam where people offer you access to your pension before you turn 55, which is the legal age you can access most pensions. Scammers may advertise this service as a form of early pension release or ‘pension unlocking’.
Many people over 50 are easing into retirement by continuing to work with reduced hours rather than stopping work all-together. This approach brings plenty of lifestyle benefits, but there are still practical and financial implications to consider.
Homeowners can release some of the value of their property (equity) to top up their savings but having retirement savings is still crucial.
MANAGING YOUR RETIREMENT
In the UK, you can continue to work while receiving income from your pension. However, accessing your pension early will leave it with less chance to grow and could result in a pension that’s unable to last your full retirement.
Some or all of your pension can be used to buy an annuity when you retire. This can guarantee a fixed income for a set period or the rest of your life. Like pensions, annuities often pay out more if you’re older when you start one.
The amount of tax you’re required to pay each year is calculated based on your total taxable annual income.
How much money you need to retire depends on your desired lifestyle and personal circumstances, like whether you’re married or have paid off the mortgage.
Retirement can impact our mental health, which can lead to feelings of stress, anxiety, loneliness and depression. However, there are plenty of things you can do to prepare yourself for retirement, and potentially limit any negative impact on your mental health.
A target date fund is a type of pension fund that adjusts the mix of your investments in anticipation of your expected retirement date. Learn more.
WOMEN AND FINANCE
However many books, parenting guides and articles you read, the truth is that nothing can completely prepare you for it.
Learn more about maternity leave and pay and how Statutory Maternity Leave and Pay are two of the most important benefits available to new mothers.
If you're planning to adopt a child in the UK, you might be wondering what your rights are for parental leave and pay. Read about Statutory Adoption Pay and how taking adoption leave impacts your pension.
Find out about Shared Parental Leave, who can take it, how much you'll get and read about the benefits and how you can make it work for you.
For those expecting a new arrival, it helps to plan and prepare for the exciting journey ahead. Here’s an overview of what to expect.
Childcare can be expensive, but there are different types and ways to get help with costs. Learn more about your options to find the best solution for your family.
There are some ways in which you can get government support to pay for your childcare.
Here’s some of the childcare options available in the UK. Learn more about your options to find the best solution for your family.
Divorce is never easy, but it can be especially complicated when it comes to pensions. Learn about some of the main issues to consider.
Find out how finances can be split in a divorce in the UK and what you can do to protect your retirement savings.
Find out how your pension contributions are impacted by parental leave. Learn how it works and how you can prepare for it.
Learn about the pension rules that apply when you're going through a divorce.
Through employee contributions, income tax, and personal contributions you may accrue pensionable benefits over your career. When you enter a marriage or civil partnership there can be legal consequences that may impact your pension.
Many couples get married to convey their commitment to each other. However, marriage also has legal implications. If a marital union dissolves, the court granting the divorce may split their financial assets - including any pensions accrued. The court order which defines the division of pensions is known as a Pension Sharing Order (PSO).
Pension Offsetting's one of the options available to you when you're splitting assets in a divorce or when you're dissolving a civil partnership. Pension Offsetting means each party uses the value of their pension to offset against other assets such as property.
When you get a divorce, you may find financial assets being discussed in court. A pension can be one of the biggest assets. One way of dividing it up is through Pension Attachment or Earmarking.
Divorce can have a significant impact on your finances, including your pensions. Find out how divorce affects your State Pension and learn about protected payments.
Combine your pensions
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