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Approaching retirement


What you need to do as you approach retirement

RetirementIdeally when you are within 2 or 3 years of retirement, certainly within the last 6 months, you should familiarise yourself with the material in this section and in particular make use of the following:

Guide to putting your pension into service  which includes explanations of annuities and all the main options and alternatives you are likely to come across.  Choosing the right approach could increase your pension income by as much as 20%, and if you are in ill health by even more, so do make sure you understand your choices. 

Guide to Lump Sums which sets out considerations for whether to take the tax free lump sum associated with most pension schemes.

Retirement Finance Checklist, which gives you a quick list of things you need to consider, with access to more detailed information if you need it.

and '2-3 yeas before retirement' Timeline which sets it all in the context of the Lifestyle you want to achieve in retirement.


If you work through the above items you will have all the basics for Planning your Retirement from both a financial and lifestyle point of view.

If you feel that you need some help from a financial advisor, then visit our section on obtaining financial advice, or our page on Laterlife selected services and associated advice.


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