Nov 24, 2022
We’re living longer than we used to, meaning that most of us can look forward to around at least 20 years of retirement. But what does retirement look like to you? Rather than stopping work completely, it might mean working part-time, volunteering, or even starting up your own business!
In this month’s Pension Confident Podcast, we look at visualising your ideal retirement with the financial and lifestyle steps you can take to make it a reality. Philippa Lamb takes the helm as usual and is joined by:
Episode breakdown:
01:23 Guests’ retirement ambitions
03:10 Customer retirement ambitions
05:20 Factors to consider when deciding on
retirement
09:38 The Retirement Living Standards
14:39 The different types of pensions
17:49 What happens in a Pension Wise
appointment?
19:54 How can you take your pension?
25:20 What can be improved in the UK pension
system?
*Just a note to say that in this episode we mention the State Pension, but don’t clarify how much that is. The current full State Pension is £185.15 per week or £9,627.80 per year. This will rise to £203.85 per week or £10,600 per year in April 2023 as confirmed by the Chancellor’s Autumn Statement. The State Pension age is currently 66, but will rise to 67 by 2028.
We also mention that the earliest you can take money out of most private and workplace pensions is currently from age 55, but this will rise to 57 by 2028.
For more information, please visit Pensions Explained on our website.
Further reading:
For more tips on achieving your dream retirement, check out our latest articles on The Buzz.
Other useful resources:
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