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Pension / Retirement Planning

Your retirement may seem like a long way off, but it is never too early to start planning. Smart planning for your retirement will ensure that when you do retire you can maintain the standard of living you have become used to. While you may be entitled to a State Pension at retirement, the age at which you can access this pension has been increased: it will not be paid until age 68 for people who were born on or after the 1st of January 1961.

And if you do qualify for State Pension, it’s designed to cover the basic necessities of life only and will be a sharp drop from your annual income. Bearing this in mind you will need a plan to supplement the State Pension payment. In particular, if you are self-employed or working for an employer who does not include you in a pension scheme for retirement benefits, it’s up to you to make additional financial provision for your retirement. There are a number of options available to you.