5 practical ways to ensure you don’t run out of money in retirement

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.
0117 959 6499
Trym Lodge, 1 Henbury Road, Bristol, UK, BS9 3HQ