Saving for retirement

The Value In Thinking Ahead

Retirement is something most of us look forward to − particularly on a Monday morning. However, those thoughts are often little more than a whimsical cocktail of not having to work and prolonged holidays. The reality could be rather different.

For a start, retirement has increasingly become a gradual process, with part-time work often playing an important role.
The latest data from the Office for National Statistics (ONS) show that 14.9% of men and 8.7% of women aged 65 and over are still in employment.
Ensuring you have enough to live on in retirement isn’t straightforward. In a report published earlier this year updated calculations from the Pensions and Lifetime Savings Association showed that a couple who wish to enjoy a moderate standard of living in retirement now need a net annual income of £43,100 (£44,900 in London). Not planning adequately for your later years could have a serious impact.

The Guide covers the following topics:

  • Your Journey To Retirement 
    Rising pension ages and life expectancy means retirement now happens later and for longer
  • Your Pension Options 
    The current pensions landscape you need to understand
  • Your Pension Contributions
    The tax reliefs and planning opportunities of your pensions
  • Investment Decisions
    Default funds and the more tailored approaches you can choose 

Click here to download your copy of ‘Saving for retirement’.

Our full range of Key Guides can be found at:
www.cometwealth.uk/resources/key-guides

This publication is for general information only and is not intended to be advice to any specific person. You are recommended to seek competent professional advice before taking or refraining from taking any action on the basis of the contents of this publication. The Financial Conduct Authority (FCA) does not regulate tax advice, so it is outside the investment protection rules of the Financial Services and Markets Act and the Financial Services Compensation Scheme. This publication represents our understanding of the Finance (No 2) Act 2024 and the law and HM Revenue & Customs practice as at 5 July 2024.