Get the retirement you want

The kids are back to school and looking forward to half term already, but maybe now is the perfect time for you too to start thinking about the long term? It may feel like a distant prospect – but it’s important to think about the retirement you want, and how to prepare for it. Here is a checklist that could help you.

1 - Get to know your State Pension

The State Pension is a good foundation for when you retire. The full rate of the new State Pension is just over £8500 a year, but your amount is based on your own National Insurance record so yours may be different. Over 10 million State Pension forecasts have been viewed online already. It’s quick and easy, and will tell you the amount you’re likely to get and when you can claim.

2 - Save while you work

If you’re working, you’re probably already saving into a workplace pension. Most people do. The best part? When you pay in, your boss does too. Some pensions will even let you top up how much you pay in, and your boss might even match it, so your pot will grow even faster.

3 - Don’t lose track

If you leave a job, the money you’ve saved is still yours. There is currently over £5 billion sitting in lost pensions – don’t lose yours! Dust off your paperwork, or get help from the Pensions Tracing Service to track them down.

4 - Don’t delay!

For help, guidance and an array of useful online tools, visit www.yourpension.gov.uk and get your forecast today. It’s never too early, or too late, to get started!