Your Lifestyle Account, and any other pension accounts you have, will form an important part of your long term financial plans.
Before you reach the point when you're ready to stop working, or work less, you'll need to know how much you've been saving up over the years. Now is a good time to do a reality check to see if you're on track for the kind of income you think you'll need.
The savings you'll have could be made up of:
|Savings in this Lifestyle Account||+ Savings in other pension accounts, maybe from previous employers||+ The state pension||+ Other savings you've earmarked for retirement e.g. shares, ISAs, property||= Your total savings for retirement|
Take some time to look at all your savings and work out how much you have. This will help you understand what savings you will have at retirement.
Our Retirement Planner which can be accessed through Manage Your Account can help show you what all of this means for you and will let you experiment with your options. It will also give you an idea of what kind of income you can expect and how long it will last.
Use the Office for National Statistics tool to see how long your pension savings might need to last.
The things to think about when it comes to investing your Lifestyle Account in the years leading up to retirement.
Our planning tools can help you manage your savings and create a future that’s right for you.