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Time to Retire?

When are you planning to retire? You may not have even thought about it but even if you have your answer will probably depend on a variety of factors including your current age, personal circumstances and how much you enjoy your current occupation.

Whatever your intentions, it does seem as though in the UK our average retirement age is increasing and that this isn’t simply due to changes in state retirement age. We may not all be like supermarket worker Reg Buttress who at the age of 95 has announced that he intends to retire this month; but according to data from the Department of Work and Pensions the average retirement age for men now stands at 65.1 years and for women at 63.6 years. This is not only ahead of state retirement age but the data also reveals that 10% of over 65s are still working.

As with other forms of financial management, decisions in respect of retirement and pension savings should be considered with an individual’s personal circumstances in mind. It’s also important not to become misled by headline press announcements which may or may not impact on personal circumstances.

If you’re looking for pensions or investment advice, or if your situation has changed and you may therefore need to review your existing investments, contact Beckworth by using one of the links on our website.