Have you reviewed your pension or pensions recently and do you know how much you have saved for your retirement?
Even now, given the current market volatility, pensions remain one of the most tax-efficient investments you can make.
The rules underpinning what you can contribute to a pension, and the rules around the Lifetime Allowance, have changed significantly from 6 April 2023.
From 6 April 2028, the earliest age you will be able to draw your pension will be 57. Unfortunately, there is no phasing into this as there has been with previous state pension age increases.
Questions to help you live your best life in later life. The question, ‘have I saved enough to retire? is a difficult one. It requires a lot of information about you, your family, your income needs in retirement, and an understanding of the various financial vehicles available for saving and investing before it can be answered definitively.
Staying on track to achieving specific financial goals
All of your financial decisions and activities have an effect on your financial health. To help improve your financial health during this period of rising inflation and interest rates, we look at three areas that could help keep you on track to achieving your specific financial goals.