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Are you ready to retire? Even if retirement is coming soon, you may have more options than you think especially now that you have Pension Freedom.
Tip 1: Make the most of any personal pensions when you come to take them. Don’t automatically accept the offer that your pension provider offers, you may be able to get a better deal if you shop around.
Tip 2: Boost your State Pension. If you think you might not be in line for a full basic State Pension, it’s worth seeing if you can boost it by paying voluntary National Insurance contributions.
Tip 3: Work a bit longer. There is no fixed retirement age in the UK. You may be able to boost your retirement income by working a bit longer, or by putting off claiming your State Pension – or both.
The power to do what you like with the money you’ve saved for your retirement – no laws forcing you to buy an annuity and no government telling you what you can and can’t do with your hard-earned cash.
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