Can you afford to take a lump sum out of your pension?

Are you thinking about withdrawing a lump sum from your pension? Whilst it can be an attractive option, it’s important to remember that a pension is designed to provide you with an income throughout retirement. Before making a withdrawal, you should ask yourself: Would taking a lump sum now affect the lifestyle you can comfortably afford? Could it mean you run out of money during retirement? Taking a lump sum from your pension Once you reach the age of 55, your pensions will be accessible. You're free to choose how ...

6 tips for creating certainty in retirement

Retirement should be a milestone that’s celebrated. You’ve got more time on your hands to indulge in the things you enjoy. But that doesn’t mean it’s entirely stress-free either. Without your usual wage coming in, you may worry about how you’ll afford to live the lifestyle you want. Spending too much too soon is a real risk in retirement. But so is being overly frugal and missing out on opportunities you’ve been looking forward to. It can mean that a retirement that promised much falls short despite having the funds ...

7 tips for boosting confidence in your retirement finances

Planning for retirement is an essential way of securing your financial future. But research suggests that many are still worried about whether they’re putting enough away to secure the lifestyle they want. Having confidence in your plans means you’re in a better position to enjoy life now and in the future. Even if you’re diligently saving into a pension, you may still be worried about the income it will deliver. This could be for a range of reasons, from not knowing how much is enough to feeling unsure how you’ll ...

Long-term care plan: Could a policy provide you with financial security?

Have you thought about how you’d pay for care if it were needed in the future? Would care costs affect your lifestyle or the legacy you leave behind? Planning for care can be challenging. After all, you can’t know whether it will even be needed. If you’re worried about how you’d afford care in your later years, a long-term care plan could offer a solution. The number of people needing care is set to increase rapidly in the UK. It’s a trend that’s largely being driven by increased life expectancy. ...