Pension UK: The ‘full strategy’ Britons can use to ensure they have enough for retirement | Personal Finance | Finance


Pension saving is an endeavour which is usually undertaken years, or even decades, in advance of a person’s plan to depart from the workforce. With the loss of a salary in many cases, Britons will be reliant upon the money they have put away throughout their working lifetime to see them through their later years. While many have access to the state pension from the government, this is being increasingly viewed as a safety net, with Britons encouraged to put away their own savings.

Investments can prove a valuable way for Britons to make their money grow, but they must also prepare for the eventuality that their money could go down as well as up.

Therefore, diversifying savings, Ms Francis explained, is key to a secure retirement.

She continued: “As a full strategy, it is important to have cash savings in place as well as pension saving and investments.

“Hopefully, this will reduce the chances of you needing to dip into investments because you have your emergency cash pot there for anything unforeseen.

To this end, deploying a “full strategy” as suggested by Ms Francis, could be a perfect solution.

She concluded: “Retirement is different for everyone, but ideally you want it to be dictated by you and your choice, rather than what you have to do out of necessity because of your finances.

“Between it all, you can be planning quite nicely, and getting yourself very well-placed to be able to reach your retirement goals.

“This could be retiring early, or simply retiring at the state pension age, not having to have a job, or being able to undertake certain activities.”

For those who are keen to understand how much they can or have put away for retirement, there are a number of pension calculators available online.

In addition, Britons are also able to request a state pension forecast from the government, providing them with more insight into how much they can expect to receive and when. 

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