Wouldn't you like to maintain the same standard of living when you retire? It is possible with the correct planning.

If you were to retire today, having made no pension provision, the likelihood is that you would suffer a major reversal in your standard of living!

The average national wage is £20,000 per year, or just under £400 per week. The basic state pension for a married couple is a little more than quarter that amount. Can you afford to live on this lower amount? Do you wish to reduce your standard of living so dramatically?

Probably not...

Additionally, an ageing population means that it is likely that future state provisions will reduce and have a negative impact on our standard of living. With ongoing advances in the field of medicine, it is becoming more and more likely that we could be relying on our retirement income for up to 30 years or more Are you sure you want to reduce your standard of living for so long? 

If you already have existing pension arrangements are they still suitable? It is a fact that many older contracts carry higher charges than those currently available, so your existing policies should be reviewed. In addition, are you satisfied with the investment performance of your existing plans?

Also, are you aware that when taking your pension benefits you have the right to shop around to try to obtain a better pension income than offered by your current contract? In many cases it is possible to obtain a higher pension and there are no penalty charges for doing so.

It pays to review all existing contracts.