Here are five ways to help ensure you don’t run out of money in retirement.
Track all your pension pots
• If you think you have lost a pension pot, you can request statements from your providers.
• You can also use the Pension Tracing Service.
Determine how much is “enough”
• A financial planner can help you determine how much retirement income you need.
• You may need to budget more for your pension or adjust your retirement plan.
Consider delaying your retirement
• If you are unlikely to reach your target fund at your desired retirement age, you might consider delaying your retirement.
• Delaying by even one year can considerably boost your pension fund.
Ensure you access your pension pot tax-efficiently
• You can usually withdraw 25% of your pension, up to £268,275, as a tax-free lump sum.
• Taking your income as tax-efficiently as possible helps you retain more of your wealth and can make your pot stretch further.
Talk to a financial planner
• We can help ensure you have a retirement plan that provides a sustainable income, allowing you to enjoy your retirement without the fear of running out of money.
To find out more, get in touch.
https://perennialwealth.co.uk/
0117 959 6499
info@perennialwealth.co.uk
Trym Lodge, 1 Henbury Road, Bristol, UK, BS9 3HQ
