Working Out The Finances
Let's Talk|October 2017

Whoever you ask, the advice is always to seek out the best possible professional advice about financial matters

Working Out The Finances

Financial matters are crucial when someone retires or is preparing to retire. And the world of pensions can appear incredibly complicated.

The top advice for those facing retirement is to contact an independent, regulated financial advisor.

There are also plenty of websites available, including Pension Wise at www.pensionwise.gov.uk.

A pension is a savings plan aimed at building up money for your retirement. The money is paid in by you, your employer or both.

The most well-known scheme is the state pension. It is provided when you reach retirement age. The full state pension is paid to those who meet National Insurance requirements.

Men used to take their pension at 65 and women from 60. However, from 2018 women will only be able to take the pension at 65. The age is then set to rise to 66 for men and women by April 2020.

It is vital you know what your state pension entitlement will be and when it will begin.

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