Ahhhh, the joy of pensions. When you are 45, this is another really boring topic you have to be well-versed in, why? because at 45 retirement is near, well 22 or 23 years off if you are lucky. I was 25 when I signed up to my first private pension. When, I was filling in the company form, it read “expected retirement age”, I thoughtfully put “50”, no “55”. I thought 50 was REALLY OLD. Now I am five years away from it, that is really scary.
So what do you do if you have accrued 5 or more private pensions. In my case, I consolidated 3 of them, and left the other 2 where they were. But everyone is different. So please seek official financial advice. Now when I eventually retire I know where everything is and I can get an annual retirement income of £200 per year (or thereabouts, I kid you not!) and rely on the State Pension.
Don’t get me started about the ‘Gender Pension Gap’ or the plight of the WASPIs. I leave you with a picture of the Extinction Rebellion marchers, I took last week on the way to interactive investor’s (ii) ‘Great British Retirement Survey‘ launch at the House of Lords.
Save the Planet (and Mr Broccoli) !