Pre – Retirement

Someway off:

You are likely to be over 50 and/ or have between 10 – 15 years still to go until your selected retirement date (SRD) or the age when you can draw your state pension.

Nearly there:

You have around 5 years until your selected retirement date (SRD) and are much more interested in your retirement options.

At – Retirement

Choices and decisions:

You are now in the process of retiring. You are less likely than in the past to stop working at a set date. You may go part-time and take some income from your pension pot; stop working completely and draw your income from your pension pot or you might leave your pension pot intact and continue longer through choice or need.

In – Retirement

Greater freedom:
You are probably fully retired now and receiving your state pension as well as generating income from your pension savings.

Slowdown:
Now you may be slowing down for a variety of different reasons from health issues to having done all the things you wanted to do. You may be spending more time at home and have less need for income.

Later life:
You may have more health issues; are more dependent on others and may have more need for advice if you are feeling less confident about making decisions about your finances.