Your retirement action plan |

Plan your career leading up to retirement

Consider what lifestyle you want in retirement

Figure out what acceptable income level you will need

Identify your current assets and liabilities

Consider the assets you are planning to build up towards retirement

I have visited www.gov.uk/state-pension-statement and completed form BR19 to request a pension forecast

Find out your State Pension Age and the amount you may receive

I have details of all of my DB pensions

I know when I can take my DB pensions

I know the impact of taking my pension early from my DB scheme i.e. before my scheme’s retirement age

I know how much my income from my DB scheme will be

I have details of all my DC schemes

I have up to date valuations for my DC pots

I know when I can access my DC pots

I know what my options are

I know that my DC scheme can offer all the options I might want to choose

I have used the Pensions Tracing Service www.gov.uk/find-lost-pension

I have details of all my personal pensions

I know when I can take them

I have up to date valuations on my personal pensions

Check the value of previous pension schemes

I have up to date valuations on my ISAs

I have details of shares and investments I own

Are your other savings and investments aligned with your plans?

Calculate your pension after Income Tax deductions

Work out the tax free cash sums from your pension

Add up your existing savings and investments

Calculate the income you need from your investments

Can you benefit from greater tax efficiency?

I have made a written plan for my retirement, including my sources of income

I have used the Money Advice Service budget planner to work out the income I need

I have had a Pension Wise appointment

I have spoken to my pension scheme manager/providers

I have spoken to a regulated financial adviser

Your retirement action plan