Choosing when to retire is difficult, as you don't know what will happen in the future. You may not be able to put away as much as you had originally planned and costs can increase. With this in mind, it's good to review how your pension is performing on a regular basis. By having regular reviews you'll know if things are on track and if you'll have the retirement income you would like. You may be able to retire sooner than you had planned or may have to work a little bit longer.
Choosing the right pension option(s) is important and with the pension changes there is now more choice.
When you're thinking about whether it's the right time to retire, it makes sense to get a clearer idea of how much you will need to live on in the future and what your retirement income might be to help you make the right decision.
Your NFU Mutual Financial Adviser* can help you plan your retirement date and nearer the time decide if this date is still applicable to your situation and the income you'll need.