| WHEN BETWEEN THE AGES OF 55 AND 75, WOULD YOU LIKE TO RETIRE? | Retiring at age 60 it is quite possible that you will live for half as long again as the number of years that you have worked. Consider how much money that may require. | For an estimate of the number of years you might be retired why not check out the average life expectancy. This link will take you to information and tables on the Office for National Statistics site. life expectancy table |
| WHAT IS YOUR TARGET PENSION INCOME IN TODAYS TERMS? | Bear in mind that you will have 365 days per year available to spend your income. You might increase the time (and money) spent on leisure activities. | Try using The Guardian pension calculator, it projects the income you can expect to receive from your present pensions, and calculates the contribution required to reach your target pension income. pension calculator |
WHICH OF YOUR ASSETS AND INVESTMENTS CAN CONTRIBUTE TO YOUR TARGET PENSION INCOME? | When setting pension objectives it is important to look at the whole picture, including state pensions, existing pension values, and any other assets or investments which can be utilised to provide retirement income. | Once your pension objectives have been set, and your financial action plan is in place, progress against the plan should be reviewed on a regular basis, any subsequent alterations can then be made as and when they become necessary, to keep your pension plan on track. |