Planning for retirement

It's good to have a clear idea of the level of income you will need to be able to live well when you retire.

If you were previously working outside the home, you might need to think about increased heating and water bills and don't forget to consider things you will want to do to enjoy life. 

It pays to be prepared as retirement nears. Around two years before you want to stop working is a good time to start thinking about your retirement options and the choices you’ll need to make. The Money Advice Service has a useful checklist for planning your retirement.

Age UK also has some useful information about retirement.

A pension is a way to save money for later in your life. To check your state pension age and to help you to plan your retirement income, visit the Government’s website.

You may have other needs which make you eligible for additional support such as housing benefit, council tax reduction or discount. Visit Herefordshire Council’s BetterOff website to ensure you are receiving the benefits and financial support you are entitled to.

You may also be able to access grants that improve your home's efficiency and therefore reduce costs. Visit our help to heat your home page for more information.

You may also want to take a look at our where to get independent financial advice page.

It is also important to keep active when you retire and to maintain a healthy lifestyle.  Visit our keeping well, staying healthy section for additional information and advice.