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Planning your retirement?

If you're hoping to retire within the next decade, you might have some big questions about your pension plans and your future.

A checklist can be a good place to start when it comes to making retirement plans. It could help you:

  • Decide what sort of retirement you’d like to have.
  • Check how much your pension income might be and how much you might need to top it up.
  • Create a savings budget.
  • Explore methods of saving that suit your current circumstances and have the most potential to help you achieve your goals.
  • Booking regular reviews with a financial adviser to check your plan still suits your requirements going into retirement as well as when you are in retirement.

Download our Retirement Planning Budget sheet

If you're not sure how your plans are affected, it could be a really good idea to think about getting financial advice. The things you are doing – or not doing – in the run up to retiring could have a huge impact on your future lifestyle. Even small changes could add up.

Skipton offer a pension review service which looks at how your current pensions are performing and will make recommendations on your next steps.

Call us today on 0345 607 9809* to see if Skipton's Financial Advice could be right for you.

A pension is a long term investment and your Capital is at Risk. Your fund value will fluctuate and can go down. You could get back less than you paid in. Your eventual income will depend upon the size of the fund at retirement, future interest rates & tax legislation.

When was the last time you reviewed your pension plans?

It can be important to review your pension plans to see if you’re on track to reach the retirement you’d like. If you’re not sure, there’s a possibility it might not be set up in the right way for your personal circumstances. For example, you might be taking more (or even less) risk with your savings than you’d like. You might also be paying higher charges than you need to.

Do you know how much you will need in retirement?

There are ways to check how much money you might need to achieve your ideal retirement lifestyle. This is something a financial adviser could talk you through. They could also help you to think about the financial impact of future unknowns. Such as what you’d do if you or your partner needed long-term care later in life.

What do you know about the pension freedoms?

The 2015 pension freedoms give you a lot more options over how you could use your pension. Although it has made it more complicated too. So it could be benefitial to work with an adviser to see if you could make the most of pension freedoms.

Get the advice you need to plan for a fulfilling retirement

Skipton Building Society’s team of financial advisers are dedicated to helping their customers plan their financial future. They will present solutions that suit your circumstances. This might include investing into an extra pension to support your plans. Skipton could provide financial advice to help you make stronger plans for your financial future. They will take the time to listen and understand your situation and make recommendations from their panel of carefully selected providers.

Skipton also offers a Pension Review Service that can support you. All you need to do is provide details about the pensions you have. This allows their in-house experts to analyse the strength of your plans.

If there are any gaps between your savings and retirement aspirations, you could receive no-obligation advice on your options. There’s no upfront fee to pay to hear these personalised recommendations.

Please bear in mind that a pension is long term investment and your capital is at risk. Your fund value will fluctuate and can go down. Your eventual income will depend on the size of your pension fund at retirement, interest rates and tax legislation.

* Based on 2,000 UK adults surveyed July 2020

Get in Touch

For more information on our pension service and to find out whether you could benefit from financial advice, call Skipton's specialist team today on 0345 607 9809*

* To help maintain service and quality, some telephone calls may be recorded and monitored. Calls are free from a BT landline, costs from other networks and mobiles may vary. Lines open Monday – Thursday 8am - 8pm, Friday 8am - 5.30pm and Saturday 9am - 12pm.

Silversurfers is an Introducer Appointed Representative of Skipton Building Society, which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority, under registration number 153706 to provide Restricted advice. Should you take advice from Skipton Building Society, Silversurfers will receive a fee for the introduction. To help maintain service and quality, some calls may be recorded and monitored. Calls are free from both landlines and mobiles.