Planning your future

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Make sure you have enough money to live on in later life

To make sure you’re saving enough money to live on when you’re older, it’s important to start planning ahead. You’ll need to think about when you’d like to take your cash sum and how much it could be worth.

You don’t have to wait until you’re 65 – you can take your benefits from age 55. However, taking them early will affect the amount you receive.

If you think you’ll need some more money to live on when you’re older, you can top up your cash sum by making extra payments. You may be entitled to State benefits too.

Late retirement

Although the normal retirement age is 65, if you continue to work after that age then you can continue to build up benefits until you leave employment or opt out of the RMPP.