Let us take the heavy lifting out of your retirement planning: Our handy guides and easy comparison charts make it easy to consider what to do about pensions, annuities or equity release products. Check out which is best suited to your needs and find a financial retirement solution that takes the worry out of your post-working life. Guides

Planning for retirement

When planning for retirement it is advisable that you aim to have several income streams for when you are finally able to give up work. Ideally you should aim to have a substantial pension pot, independent savings and investments, as well as other assets that all can be used to provide a retirement income.

You may also want to unlock equity held in your home into cash to help fund your retirement plans. Equity release or a retirement interest only mortgage can help you unlock the value in your home.

Before creating a retirement plan it is advisable to speak to an independent financial advisor who will be able to give you some impartial advice about what would suit your personal circumstances. You can also visit our retirement guides section to read more about pensions, equity release and annuities.

What is an annuity?

Annuities are a way of providing a guaranteed income for life when you retire. You can use the money you have saved in a pension to purchase an annuity which will then provide you with a monthly, quarterly or annual income for the duration of your lifetime. The amount of income you get depends on how big your pension pot is and which options you choose for your annuity income, for example whether you choose to buy an escalating annuity that pays less at the start but increases in rate of inflation. To find out more visit our annuity page.

What is equity release?

Equity release provides retirees with a way of releasing money from the value of their home without having to move. Normally an equity release provider will allow you to release up to 60% from the value of your home, depending on your age, however it is important to remember that equity release does come with substantial risks. To find out more about equity release our guide provides an overview while our equity release page provides a contact for our trusted equity release broker.

How Moneyfacts works

  • blue money scales

    BALANCED. Moneyfacts.co.uk is entirely independent and authorised by the Financial Conduct Authority for mortgage, credit and insurance products.

  • free label

    FREE. There is no cost to you. Our service is entirely free and you don't need to share any personal data to access our comparison tables.

  • drawing of pound sign and arrow

    TRANSPARENT. We only receive payment from product providers and intermediaries for quick/direct links and adverts through to their websites.

  • blue binoculars

    COMPREHENSIVE. We research the whole market and scour the small print so you can find the best products for your needs.

Get our weekly newsletter

Weekend Moneyfacts is available free by email to all Moneyfacts.co.uk users.

Please send me Weekend Moneyfacts, Savers Friend and selected third-party offers.

guide icon
How to choose the best annuity

Puzzled over what annuity you should take? Our handy guide makes things clear

Read More
guide icon
Equity release jargon buster

Don't be confused with equity release jargon - Our guide explains the most commonly used terms

Read More
guide icon
What is a personal pension?

A beginners guide to the personal pension.

Read More

Cookies

Moneyfacts.co.uk will, like most other websites, place cookies onto your device. This includes tracking cookies.

I accept. Read our Cookie Policy