Approaching Retirement

Retirement prepping?

If retirement's just around the corner, you might want some help with your plans

We’re big advocates of getting an early start on your retirement plans. Because the sooner you start to plan, the more money you’re likely to have when you retire. That’s not to say it’s too late if you’re over 50. In fact, even if you’ve done nothing at all up until then, the sooner-you-start-to-plan theory still applies. So, here’s our guide to helping you get started on yours.

Check your pensions

You don’t pay tax on the growth in your pension funds, so they can be a really good way to save for retirement.

Workplace pension

Your workplace pension has the advantage that in most cases your employer will contribute to it and that you can increase the amount you pay in if your circumstances allow it. If you do increase your contributions, your employer might increase theirs too, so it can be useful to check if you could contribute more.

State pension

You might also qualify for a state pension, which is based on your National Insurance contributions. Check yours at gov.uk.

Pension from past employers

If you’ve lost track of pensions you had with previous employers, you could potentially trace them using the gov.uk’s tracing tool. It might be worth considering combining your pension plans, but you’ll need to weigh-up the pros and cons before making a decision.

Visit our pension planning page to learn more about pensions. And, if you think there might be a shortfall in your retirement funds, we’re here to help you think about other ways you could potentially build your funds.

How we can help you

We can review your pensions and investments to see if your current plans are on track, or help you make new plans if you don't already have plans in place. We will produce a plan of recommendations and talk you through them. Then you can go away and have a think. If you decide not to act on our recommendations, that’s fine. It’s our No Pressure Promise. You won’t incur any charges unless you act on our recommendations.

We’ve also created a form designed to give you a rough idea of what your income and outgoings might be when you’re retired. It won’t give you definite answers though, so if you’d like a more detailed analysis, our financial advisers might be able to help.

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Why choose Skipton for financial planning

No pressure promise

We’ll never push you into taking up a recommendation or service you don't want or need.

No implementation no charge

You'll only be charged if you decide to implement your financial plan

Retirement planning experts

Your adviser will discuss with you your current lifestyle and financial situation, and build a plan tailored to your needs

Our recommendations are likely to include stock market-linked investments. These aren't like building society savings accounts, as your capital is at risk and you may get back less than you invest. The value of your investment and any income from them may fall as well as rise. Your eventual income will depend upon the size of fund at retirement, future interest rates and tax legislation.

Get in touch

Web Chat

If you’ve got a quick query, drop us a line on web chat and our friendly team will be happy to help you out.

Speak to us

Call us on
0800 731 5342
or request a call back

Visit us in Branch

Come and see us at any of our UK branches and we’ll arrange an appointment to talk about your retirement plans.

Read our articles to find out more

Check my pension?

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Investment planning for a 100 year life

Life's too short, or so they saying goes. But that's less likely to ring true for your children and grandchildren.

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