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Managing my investments
Managing my investments

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5.3.3 Take control

The image is a drawing of a calculator in the palm of a hand.
Figure 8 Time to calculate if you’ll have enough income in retirement.

We have now looked at state pensions and the various forms of non-state pensions that collectively can provide your income in retirement. Take some time now to check your entitlements to pensions using the information provided in the previous sections and the most recent statements provided by your pension provider(s).

Activity 5.2 Assess your position

Now return to the Age UK pension calculator [Tip: hold Ctrl and click a link to open it in a new tab. (Hide tip)] to assess your position and see whether or not you’re on course to get the income you need to afford the lifestyle you want.

Whatever the result, consider your thoughts on ways to take control of your future.

To use this interactive functionality a free OU account is required. Sign in or register.
Interactive feature not available in single page view (see it in standard view).

In the coming sections, you’ll hear how the pensions landscape in the UK is changing following the liberalisation of rules relating to access to ‘pension pots’ that took effect from April 2015.