Why is setting your target retirement age important?

The Tesco Lifestyle Investment Options assume that you want to start taking your savings at age 65.

If you think your target retirement age will be earlier or later than age 65, it’s important that you tell us about the change to your target retirement age as early as possible to make sure your savings are moved at the right time for you.

You can take your savings from age 55, whether or not you've stopped working. But remember, the earlier you take your savings the longer they are likely to have to last.

Remember it’s important you set a realistic target retirement age if you invest in the Tesco Lifestyle Investment Options, as your investments will be set to target that retirement age.

If your target retirement age is not up to date, the investments might not be appropriate and the information that we’ll send to you may also be less accurate.

You can change your target retirement age at any time by calling 0345 070 0090 or through Manage Your Account.

The Planner on our colleague homepage can also help you choose the right target retirement age. It helps you see the impact that retiring earlier or later will have on the money you get.