Planning for retirement: what you need to know

The run up to retirement can be daunting and many people may be unsure about certain things that will affect the amount they’ll have to live on.

This can feel overwhelming, prompting many of us to bury our heads in the sand and worry about retirement planning later.

But failing to address these issues as early as possible can prove a costly mistake.

After all, no-one wants to reach retirement only to discover that they can’t afford to retire, and that their pension won’t provide them with the level of income they were hoping for.

Here, we talk to pensions expert Katrina Swindlehurst about some of the challenges facing those close to retirement, and what steps they might be able to take to manage their income when they stop work.