A few years from retirement

With a few years to go until you retire, now is a great time to review your plans. Retirement might still be a way off but at this stage a few simple steps are often all it takes to be fully prepared for the future. Before you get started a personalised Retirement Options Report may help you understand what benefits may be available to you. You can generate this report here. Then you can really look forward to your retirement.

Reviewing your plans at this point is important. It could give you the reassurance of knowing that you're on track. And, if you need to make changes, it's not too late. Even small adjustments you make now could make a significant difference to your retirement income.

So, what do you need to do now? Use this checklist to help you organise your planning:


Start to think about how much money you might need in retirement. Check on all benefits you might be entitled to – such as the winter fuel allowance, a free TV licence, pension credit or disability entitlements.  ✓ 
Gather together all your pension information and statements. Ask your pension providers for up-to-date statements and check if you have any pensions you weren’t aware of through the Pensions Tracing Service at www.gov.uk.  ✓ 
Request a State pension statement at www.gov.uk and plug missing gaps in your state pension, so you’re entitled to the full basic State Pension. You can view this information in your personal tax account at gov.uk  ✓ 
Assess the total value of your retirement savings, and your outgoings.  ✓ 
Do you need more in your pension fund to cover your future income needs? Act now:  ✓ 
Check the performance of your pension investments to make sure they’re on track. If you can, consider increasing your pension contributions to take advantage of the additional tax relief.  ✓ 
Check whether your employer will match your company pension contributions if you increase them.  ✓ 
Consider making additional lump sum contributions to your pension if you receive a bonus, windfall or inheritance.  ✓ 
Look at ways you could maximise your savings, reduce your spending and become free from debt.  ✓ 


Consider consolidating your pensions to make it easier to manage your retirement savings

Start thinking about how you want to take your retirement income and investigate your options