Millions of people across Essex and the UK rely on a state pension to fund their retirement years. The qualifying age to receive a state pension has already risen dramatically for women over the last ten years as the government increased the retirement age for women from 60 years old, to match the retirement age of 65 years old for men. However, this year has seen yet another increase in the qualifying age for the state pension, which now stands at 66 years old for both men and women in the UK. Furthermore, the government has already laid out plans for further increases to bring the joint retirement age up to 68 years old. The question of when an individual will qualify for a state pension could therefore be somewhat uncertain!

Whether you will retire at 66 or even 68, planning financially for your retirement is essential in order to ensure that you will be financially comfortable throughout your retired years. Retirement can look very different for different people, with some people wishing to embark on worldwide travels, and others content to pursue hobbies closer to home! Therefore it is important that you seriously consider your goals for your retirement and use these to help you plan financially now.

Planning for your future can seem like a daunting task, especially in the current uncertain times that we find ourselves in. However, with the help of our trusted partners at Andrew Douglas Wills & Legal Services, one thing you can do today is to undertake a review of your current financial position and how you have prepared so far for retirement. Our Pension advice service includes a complimentary Pre-Retirement readiness assessment! Should you wish, our expert team can then further advise you with:

  • Identifying all potential sources of income in your retirement, including your State Pension
  • A review of your current Pension plans
  • Collation of historic pension schemes into one management source

By completing a thorough assessment of your financial plans today, you can take the necessary steps and changes to ensure that you have the retirement that you wish for. Whether in Braintree or the surrounding areas of Essex, to arrange your complimentary Pre-Retirement readiness assessment, contact Andrew Douglas Wills & Legal Services today.

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