Can I afford to retire?

Whether you can afford to retire depends on factors like how much you’ve saved, when you hope to retire, and the lifestyle you’re expecting in retirement. You can get a sense of how much you might need by checking the Retirement Living Standards (RLS), published by the Pensions and Lifetime Savings Association. The RLS gives estimates of what retirement might look like at three different levels of income.

Your adviser will use the RLS in conversations with you. They’ll also use a type of forecasting called cashflow modelling to help you see the best ways of using your pension and investments to support your retirement.