Do you know what you’re aiming for?

There’s a big difference between having a pension and knowing whether your pension is going to be enough. But even that raises a difficult question: enough for what?

Most of us probably don’t know exactly how much we’ll need in retirement. What will our lifestyle cost? When will we want to retire? And what does being “on track” actually look like? It can feel difficult to know where to start.

The good news is there are plenty of tools and resources available that can help. Your pension provider is a great place to start – many have calculators and planning tools that can help you understand what your current savings could provide and whether there might be a gap.

MoneyHelper also has some really useful, impartial tools and guidance to help you think about what you might need in retirement:
https://lnkd.in/eaPjYFqh

You don’t need to have retirement completely figured out today. But understanding what you might need is a really useful first step.

So perhaps the question this Pension Awareness Week isn’t simply “Am I paying into a pension?” It’s “Do I know what I’m aiming for?”