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Next Key Stage - Near Retirement (transition planning)

The next stage of your retirement planning is when you are within 5 years of taking pension benefits - we call this stage transition plannnng.

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 pension drawdown. For each solution, the transition planning will be different to ensure you are not exposed to too much or too little investment risk/opportunity.

You may have selected a pre-retirement investment strategy some years ago, particularly if you are in a default investment choice. These are often called 'Lifestyling' or 'Target Date' funds and typically work on a de-risking basis on an assumption you will buy an annuity at retirement. With many people no longer choosing an annuity at retirement, reviewing your investment decisions approximately 5 years before retirement has become increasingly important. 

We invite you to explore transition planning in further detail by clicking here.

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