Step 4: Arriving

If you’re at this stage of your retirement planning, it’s likely you’re 12 months or less from your selected retirement age and are looking to take your money. You may have even received information from Legal & General already. You’ve worked hard and have put some of the money you’ve earned into your pension – now’s the time to make decisions to enable you to enjoy the next chapter of your life.

You should consider how and when you want to retire, so that means taking time to think about things like:

• How much money will you have?
• How long will it need to last?
• Is your chosen retirement age right for you?
• What are your options?
• What your life will look like in retirement – how will you spend your time? Does your chosen retirement option work in line with your plans?

It’s a really good idea to get guidance at this stage if you haven’t already done so. Pension Wise, is a free and impartial service backed by the government who will help you make sure that the decisions you’re making are the right ones for you.

You can also choose to receive personalised advice from a financial adviser. You can find one in your local area at www.unbiased.co.uk. 

If you don’t wish to find your own adviser, we have teamed up with LV= who provide a telephone retirement advice service. You can find more information on the Retirement advice website. Advisers usually charge for their services. You may be able to pay for financial advice directly from your pension pot. Ask your financial adviser for details.