Planning your retirement takes less time than you think
As your retirement gets ever closer, it’s important to have all the facts so you have the best possible plan.
Why not take an hour to watch videos from experts, get to grips with pension basics, use our calculator to see what your pension pot could be worth and start planning for a comfortable future?
Find out your next steps if you've left it late to save for retirement and your pension options.
Hear what a financial expert says and why financial advice could help you.
Explore your options and see what you could do if you feel you’ve not saved enough.
Think about your needs and what you might require in retirement.
Gain insight from a behaviour expert and learn how to enjoy planning your future.
Be inspired by others’ stories and make the most of your retirement.
Isn’t it amazing what you can achieve in an hour? Before you take your next steps towards a more comfortable retirement, why not encourage friends and family to join in by sharing our video?
Here’s a head start if you’re planning for a more comfortable retirement
Have I left it too late to save for retirement?
What are my pension options?
Want to explore ways you can access your pension pot when you’re 55? Find out your next steps if you feel you've left it late to save for retirement and your pension options.
TV personality and independent money expert Sarah Pennells explains what you might need in retirement, what to do if you need more money – and why financial advisers can help.
Why is it a good idea to get financial guidance?
What should you do if you don’t think you’ve saved enough?
Think about what you will need in retirement
People have already made a start
Here are the top ten cities in the UK for visiting our Change your life in an hour website.
64% of 50-59 year olds are saving adequately for retirement
£22,834 the average annual amount 50-64 year olds feel they will need for a ‘comfortable’ retirement
36% of people would seek advice about pensions.
27% of 50-64 year olds plan to travel in their retirement.
19% of people expect to be looking after their grandchildren
Source: Scottish Widows 2016 Retirement Report.
So far, you’ve learned from a financial expert what you might need in retirement, what to do if you don't think you’ve saved enough – and how a financial adviser can help you plan.
Peter Ayton, Professor of Psychology at London City University, explains why it’s important to carefully consider your retirement plan – and how you can enjoy this.
Why do you need to carefully consider your decisions
How can you enjoy planning your future?
Be inspired by other people's stories
Want to start a film club like William and Jehanna?
Would you like to become an explorer like John?
Will you become a model like Bridget?
So far, you’ve learned from the experts about making a plan and why it can be challenging to do so. You’ll also have a good idea of the ways you can access your pension pot.
Want to know more about what money you might have to support you when you retire? Use our articles and calculators to help plan your next steps.
Questions about the state pension? See how much state pension you might get.
How can you access your pension pot? Use our calculator to compare options.
How much tax might you pay on your pension if you take a cash lump sum? Use our tax calculator.
If you want to review your current plan, or put a new plan in place, your next step is to speak to your employer or contact an independent financial adviser.
A financial adviser will make sure you have the right plan but be aware that there may be a fee.
There are two types: Independent Financial Advisers and Restricted Advisers.
Both are regulated, have passed the same qualifications and can help you decide what pension is right for you. However, there are differences.
Independent Financial Advisers (IFAs) – give unbiased advice about the whole range of financial products from all the available companies.
Restricted Advisers – give advice on a limited range of products. They may specialise in one area, like pensions, or advise on products offered by a limited number of companies.
When you first speak to an adviser they must tell you in writing if they offer independent or restricted advice. If you are not sure, ask.
You can find a full list of authorised advisers on the Financial Conduct Authority website.
To make sure you can complain if things go wrong, you should also ensure they’re regulated by checking the Financial Conduct Authority (FCA) register.
You may also find these websites useful:
During your meeting, we recommend you:
Before your first meeting:
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We hope you agree that planning your retirement takes less time than you think – and that you’ve learned a lot in just an hour.
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Pensions are a long-term investment. The retirement benefits you receive from your pension plan will depend on a number of factors including the value of your plan when you decide to take your benefits which isn't guaranteed, and can go down as well as up. The value of your plan could fall below the amount(s) paid in. The tax treatment of your pension depends on your individual circumstances. Your circumstances and tax rules may change.