With people now living considerably longer, there has proved to be a resulting need for these same people to work longer and a consequent increase in the pension age in Chelmsford and throughout the country as a whole. With this in mind, Laura Richardson now looks to provide a brief analysis of the effect of a steadily rising pension age in Chelmsford upon people living there . . .

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With the children going back to school and the autumn weather rolling in, many people in Chelmsford are beginning to think about their plans for the remainder of the year, and their future plans for 2018.

Whilst September is a traditionally busy month for estate agents, as people rush to move house before Christmas, it is also a good time to take stock of your other financial assets, such as your pension plans. Earlier this year the Government announced that there will be another rise in the pension age, bringing it up to 68 years old which will be phased in between 2037 and 2039. This will affect around 6 million people across the UK, as they will be required to wait an extra year to be able to claim their state pension.

Whether you are directly affected by this change or not, it is important that you are aware of your position regarding your future entitlements and it is imperative that you seek professional financial advice should you be at all concerned about supporting yourself in the future. Furthermore, it is vital that you ensure that you have a robust financial plan to guarantee that you can continue to support yourself and your family, whilst also ensuring that you make the necessary financial decisions to safeguard your ability to support yourself following your retirement.

We at Andrew Douglas Wills and Legal Services are proud to work with one of our trusted partners in order to provide expert financial services, which include General Pension and Retirement Advice. This includes a complimentary ‘Pre-Retirement Readiness Assessment’, which is crucial to provide you with the necessary information to confidently make decisions regarding your Pension plans. Our trusted partner can also offer help with identifying all potential sources of income for you during your retirement, as well as a comprehensive review of your current Pension plans.

With this in mind, if you would like to arrange an appointment for your complimentary ‘Pre-Retirement Readiness Assessment’, or if you would like any further information regarding the financial services offered by Andrew Douglas Wills and Legal Services for those concerned about their pension age in Chelmsford, please contact us today via www.andrewdouglaswills.co.uk to find out more.

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