
Fifties Retirement Planning
Your fifties are the perfect time to get your pension pot and retirement plans in sync. There’s a chance your earnings are at their peak and you’ve paid off some of your biggest expenses, like your mortgage.
Your fifties are the perfect time to get your pension pot and retirement plans in sync. There’s a chance your earnings are at their peak and you’ve paid off some of your biggest expenses, like your mortgage.
Tips for a perfect retirement plan
Don't panic if your pension savings aren't where you thought they'd be. There's still plenty of steps you can take to help you retire on your own terms. The key is having a decent plan in place.
Spring clean your pensions
It's important to get an idea of how much pension wealth you've built up over the years. It can help you recognise any shortfalls before it's too late.
It's likely you'll have more than one employer in your lifetime, which means you'll probably have more than one pension pot too. This can make it hard to know how much you've got saved so far, and whether you're on track to meet your future goals.
You could consider transferring your old pensions, and combining them under one roof. It can make your income and investments easier to manage. You'll have more control of your money and where you're invested in the run up to and in retirement. If you've lost track of your old pensions over the years don't worry. The government's pension tracing service can help you track them down.
If you're thinking about transferring, check you won't lose valuable guarantees or benefits or have to pay excessive exit fees.

Get pension wise
At age 50, everyone has the right to an impartial specialist guidance session from Pension Wise. It's a free service offered by the government to anyone, with a private or workplace pension, who wants to understand more about their options. Even if you've got an idea of what you might do, it can be useful to confirm you've got all the facts straight and you haven't overlooked anything.
Want to talk things through?
It's your chance to become more confident about your retirement plans. We have a dedicated team happy to answer your questions and talk through your retirement plans so far.
You can book a review with one of our specialists five days a week: Monday-Friday 8am-5pm.
No personal advice will be given during the call. If you think you need advice after speaking to our experts, they can put you in touch with an adviser.