The importance of considering care when calculating retirement income

Have you ever considered about the cost of care you may need to pay later in life? It’s not something anyone wants to think about but it’s becoming increasingly important. As life expectancy increases, more of us will need some form of care as we enter our later years. It’s a service that many are likely to need to pay for either wholly or partly themselves. However, according to research from Which? millions of people are underestimating the cost of paying for a care home. It's a ...

Seven steps to take if you plan to retire in 2019

A New Year is just around the corner and if you’re planning to retire in 2019, there are some steps you should be taking. Being prepared and understanding how your retirement provisions will support you can help you achieve the retirement you’ve been looking forward to. Among the steps to take as you approach this milestone are: 1. Planning your ideal retirement When you think about retirement it can often seem like it’s in the distant future. If you haven’t thought about what you’d like your retirement to look like, now is ...

Retirement is changing: Have you factored this into your plan?

Not so long ago, retirement followed a fairly similar path for most people. You gave up work on your retirement date and used your pension to purchase an annuity, providing you with a guaranteed income. But times have changed. Today, you have more flexibility when it comes to your retirement. However, it brings more complexity too. Traditional models for retirement planning are fast becoming outdated and it’s clear that a singular approach won’t suit everyone. A focus on what you want to achieve is important. How has retirement changed, and how ...

What you need to know when purchasing an Annuity

An Annuity can be an important product to fund your retirement. But fewer people are choosing to purchase an Annuity following the introduction of Pension Freedoms. An Annuity is a product you purchase to provide a retirement income, typically using your pension savings. It offers a guaranteed income for either a defined period of time or, more commonly, for the rest of your life. Annuities can provide certainty when you plan your retirement finances. Following the introduction of Pension Freedoms in 2015, sales of Annuities dipped. It’s a trend that reflects ...