Do you have a pension? For many people, retirement seems like a long way off so they tend to put it to the back of their minds. You’re probably not planning on reducing your standard of living when you retire, but have you thought about how you’re going to pay for it when you’re no longer working
Developments in relation to pensions in recent times make it clear that the responsibility for funding your retirement
ultimately lies with you.
Make retirement planning a priority so you don’t outlive your pension. If you don’t have a pension, there’s 3 main reasons why you need one:
- You may need an income for up to 30 years or more after you retire
- Your income could drop by almost 70% in retirement
- If you qualify for the State Pension, you could be 68 before you receive it