Retirement planning in five key points

Early preparation pays off

clock • 2 min read

Working with employer clients to assist their workforce with retirement planning is a key part of an adviser's role.

Here Wealth at Work outlines five simple steps employees can take to assess their current position and come up with a workable retirement plan. Employees need to work out what they want from retirement The consultant said this included thinking about what they would like to do in retirement, how much it would cost and when those costs would be incurred. Employees, it said, should be aware of different income needs in retirement - specifically, the U shape scenario where the first ‘active' phase is the most expensive. Spending drops off in the ‘passive' phase and then ticks u...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

How retirement planning has transformed over the past 50 years

How retirement planning has transformed over the past 50 years

PPI report looks at the move from predictable pensions to personal responsibility

Jonathan Stapleton
clock 21 November 2024 • 3 min read
Act now: Planning for retirement is a concern for today

Act now: Planning for retirement is a concern for today

'Don't wait until tomorrow to think about retirement'

Andrew Tully
clock 20 November 2024 • 4 min read
Government publishes Pensions Investment Review interim report and launches DC and LGPS consultations

Government publishes Pensions Investment Review interim report and launches DC and LGPS consultations

Report published as Reeves delivered inaugural Mansion House speech

Jonathan Stapleton
clock 15 November 2024 • 4 min read