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How to make money in retirement

We should all be able to enjoy our retirement. But as we get older, it can sometimes get harder to make ends meet.

We’ve got some straightforward advice to help you make your money go further.

Get a benefits check

Don't assume you're not entitled to any benefits. Each year up to £3.5bn of benefits go unclaimed by older people. So, even if you think you're getting everything you are entitled to - it doesn't hurt to check. Benefits could help you to pay for care, bereavement, bills or to maintain your independence. 

What extra money are you entitled to?

Do you know what benefits you are entitled to? Our Benefits Calculator can help you, quickly and easily, to find out what you could be claiming.

Find out more about some of the main benefits you could be eligible for:

  1. Pension credit
  2. Housing benefit
  3. Attendance Allowance

Clear your debts

It's never too late to regain control and find your way back to a debt-free life. Read our guide to debt to find out how to manage, consolidate and pay back anything you owe.

There are also lots of organisations offering free debt management advice, including local Age UKs.

Read our debt advice guide

Credit can be a useful money management tool in retirement and give us more freedom, but must be used carefully to avoid the debt trap.

Trace lost money

You may have money stored away in lost bank accounts, pensions or premium bonds if you've changed your name or address several times.

Cut your household costs

Council Tax

Council Tax helps your local authority to pay for services like rubbish collection and road maintenance, and applies to all domestic properties. Regardless of your financial circumstances, you could be eligible for a reduction to the amount you pay or could even be exempt.

6 ways to reduce your Council Tax bill

Household bills

Reducing your energy and water bills doesn't mean making big changes, and could save you hundreds of pounds every year.

Cut your energy bills
Cut your water bills

Talk to Age UK

Call Age UK Advice on freephone 0800 678 1602 to order our guides or get advice from a trained adviser.

You can also speak to a friendly adviser at your local Age UK. With more than 125 Age UKs across the country, chances are there's one near you.

They can give advice on claiming benefits and help you complete your claim forms. We may even be able to visit you at home if you find it difficult to leave the house.

Find your nearest Age UK to speak to someone face-to-face


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For more information call the Age UK Advice Line on 0800 678 1602.
We’re open 8am to 7pm, every day of the year.

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Last updated: Jun 30 2021

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