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Planning for retirement

Financial journalist and presenter of BBC Radio 4's Moneybox, Paul Lewis, gives his tips on how to plan for retirement - covering topics such as pensions, tax, annuities, wills and debt.

Financial planning is really just arithmetic. Write down your income, your expenditure, what you really have to spend.

Then look at what you might expect, your state pension and any other pension you've been paying into. Then see how they balance.

If they don't, then you're going to have to cut your expenditure or find a way to increase your income once your reach retirement.

It might take a while to do a bit of phoning round or looking on the internet, but it's fairly simple to find information yourself and definitely worth finding out the basics.

The Money Advice Service has lots of useful information

Making a will

Paul Lewis explains why it's vital to make a will when planning retirement.

Why you should make a will


Paul Lewis explains what an annuity is and how to find the right one.

Deciding whether to buy an annuity

Dealing with debt

Why getting rid of your debt is important before you retire.

Get debt advice

Income tax

Why you need to talk to the taxman when you retire, so you don't miss out.

More information about Income tax

Where next?

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All the information and advice we provide on the website is free and completely independent, as is our Advice Line that is open 365 days a year.

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If you are able to, just a small gift today could help us reach even more older people wherever the need is greatest.

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Age NI Advice Service

Every year our Advice Service deals with thousands of calls from older people in need. Call us today to make sure that you are receiving all the help and support available to you.

Call freephone 0808 808 7575
Monday - Friday 9am – 5pm 


Last updated: Jan 16 2024

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