Pension Planning - Retirement Income
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Retirement Income
The financial resources that you may need should be planned appropriately as the duration of the retirement phase, of your life could last for as long as two to three decades.
On average you can expect this many years of retirement:
If you retire at this age |
Women | Men | |
|---|---|---|---|
| 50 | 31 | 27 | |
| 55 | 27 | 23 | |
| 60 | 23 | 19 | |
| 65 | 18 | 15 | |
| 70 | 15 | 12 | |
| 75 | 11 | 6 | |
| 80 | 9 | 7 | |
| 85 | 6 | 5 | |
A major problem in pension planning is that the economy is likely to be very different, but to begin with, the income that you may need should be based on today's prices.
There
will be a significant difference between your present income
needs and your income needs when you retire, as you will not
have mortgage or work related expenses, but may have health related expenses.
Pensions.co.uk is part of a large network of financial sites created to help advise you on life events, such as buying a house, Mortgages.co.uk; insuring your car - CarInsurances.co.uk; your life - LifeInsurance.co.uk; and your home - HomeInsurance.co.uk.
1998 - 2008 UK Pensions - Planning before, at the onset and during retirement.
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