At What Age Do You Plan to Retire?

Written by Karen Bryan

I’m currently 52 and my plans on when to retire depend partly on the value of my stakeholder pension.  I can access this pension pot once I’m 55+. However as the value of this pension is based on the stock market, I will need to try to gauge the best time to cash it in. As I’ve been a freelance worker for many years, I haven’t had the opportunity to build up a decent workplace pension with the bonus of employer contributions. From 2017, employers will have to pay in 3% of their employees pay into the employees National Employment Savings Trust (NEST) workplace pension.

pension forecast

I’m due to receive my state pension at 66, although I wonder if the state retirement age may have gone up again by then or if there’ll be means testing of the UK State Pension? It can be a challenge to live on less in retirement and in some ways I may decide to keep working in self employment beyond state retirement age if I (mostly) enjoy what I do and my health is good.

The Results of Our Poll on Retirement