Retirement.

Retirement can be one of the most fulfilling lifestages of all. The time when you stop work and concentrate on what’s important to you – your family, your interests, your ambitions and your dreams.

Whatever you plan to do, you’ll need to secure an alternative source of income.

This is when your hard work and forward thinking pays off. Here are some of the things you might want to consider and tools to help you plan ahead.

Your finances

• Delay taking your pension until the time comes to stop working.  Use our retirement planner to see what your likely retirement income is.  
• Log in to manage your account to check on your savings.
• Learn about debt, savings and planning your money with our fun and interactive Cash Family Challenges.
• Buy an annuity.
• Take a lump sum.
• Consider income drawdown.
• Think about long term care planning for the future.
• Review your inheritance tax plans .  Make sure you pass on your wealth to your family, not the tax man.
• Review and update your will.

Key events

• Retirement. You’ll need to plan ahead to make sure you have an alternative source of income when you stop work.
• Inheritance tax planning. Make sure you pass on your wealth to your family, not the tax man.
• Grandchildren. Plan ahead , you may want to pass on some of the wealth you’ve built up for the next generation.
• Inheritance or windfall. Make sure you make the best use of any money you inherit and consider tax-efficient savings options.
• Divorce or dissolution of registered civil partnership. Dividing up your assets can mean the sale of a house, the loss of shared equity and a new need for financial independence.
• Falling ill or becoming widowed. Thinking ahead means you’ll be covered if you fall ill or the unthinkable happens to you or one of your family.