It might be as soon as you can or you might not like the idea at all. Whenever you do retire, to make sure you can enjoy the standard of living you’d like, you’ll need to take some action now to plan for the future and the income you’ll need.
Part of that planning will be to decide when you want to retire. The earlier it is, the more money you’ll need.
If you’re employed, your job may have a definite retirement age, say, 60 or 65. If you’re self-employed or running your own business, you’ll probably have a greater say about when you stop working.
The life expectancy for both men and women is increasing and the State Pension age will increase for both men and women, to age 66 by 2020, with proposals for further extensions also being considered by the Government.
Take a look at our pension plans and speak to your adviser about pension planning.
