Near Retirement Information
You are approaching retirement and it is time to review all your arrangements and start making some decisions about your retirement pot.
As well as considering additional pension funding and perhaps obtaining your state pension forecast, one key area you will need to address is ‘transition planning’.
In its simplest terms, transition planning is matching your pension investments to your likely retirement income solution, whether that be to cash-out your pension, buy an annuity or to use flexi-access drawdown. For each solution, the transition planning will be different. Furthermore, if you are considering flexi-access drawdown, your transition planning will need to be tailored to your individual circumstances and needs for cash and income in retirement - default funds, such as 'lifestyling' or 'target date' funds are unlikely to be suitable.
Try our ‘Annuity or Not’ tool to get an understanding of the retirement income solution that is most appropriate for your needs.
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