Retirement

Retirement might seem like a distant milestone — especially if you’re in your 20s, 30s or even 40s — but planning for it early can make the difference between just getting by and enjoying real financial freedom later in life. With rising life expectancy and changes to workplace pensions, taking control of your retirement planning is more important than ever.

This guide explains how pensions work in the UK, what your options are, and what steps you can take now — whatever your age — to build a comfortable retirement.

What Is Retirement Planning?

Retirement planning is the process of making sure you’ll have enough income to support yourself once you stop working. That might mean funding your lifestyle with a combination of:

• Workplace pensions

• The State Pension

• Private pensions or investments

• Property income

• Savings

The key is to ensure your income in later life matches the kind of lifestyle …