What extra things can you do to help your retirement savings?

Should you save more?

No matter how close you are to retirement, you still have time to boost your savings. You can top up your existing pension contribution by paying in a lump sum or increasing your regular contributions.

Maximising your pension contributions before retirement brings an immediate boost in the form of tax relief.

If you have a workplace pension, are you paying in the most you are able to? The more you pay in, the more your employer may contribute as well.

You should contact your pension provider or employer (if you have a workplace pension) to find out the different options available to you.

Could you delay your retirement?

After reviewing your pensions, you could delay taking them until later.

Delaying when you take your pension could help you. It gives you more time to save and allows the potential for growth, which in turn could boost your retirement income. The value of your pension can go down as well as up, and may fall below the amount(s) paid in.

Read more about delaying your retirement

Review your pension investment

If you have a defined contribution pension, the money will be invested in funds. You should regularly review your investment and check that these still align to your attitude to risk now you're approaching retirement.

Some pensions are invested in a lifestyle strategy. A lifestyle strategy gradually moves your savings into lower-risk funds as you get nearer to your selected retirement date. This change reduces the growth potential of your pension, as it aims is to protect what you've built up if there are any market downturns.

Your pension provider will be able to give you more information.

Find old pensions

House moves, career moves, busy families - life changes fast and it's easy to lose track of your pensions.

Finding a lost pension may be as easy as making sure your pension provider has your correct address.

If you can remember the provider of your lost pension, call them and they'll help you directly.

  • If you don't remember the pension provider, but do know who you worked for, call your old employer.
  • If you don't know the details of the pension provider, or your old employer, you can use the Government pension tracing service.

More help

Pension Wise

Pension Wise is a service from MoneyHelper, backed by the government. They offer free, impartial guidance to people over 50. You can get help from them online, over the phone or face to face. Pension Wise can explain how each retirement option works, what tax you might pay and how to look out for scams.

Pension Wise

Financial Advice

If you are unsure what to do, or your pensions appear complex and confusing, you could speak to a financial adviser to help you.

Financial advisers can advise you on a range of financial needs. Some advisers specialise in a particular area, for example pensions and retirement planning. Although a financial adviser will charge you for their services, it may help you make better decisions and avoid expensive mistakes.

Find an independent financial adviser



An Independent Financial Adviser (IFA) can recommend products for your personal situation. Use the tool to help find one near you.

Find an IFA



The Pension Wise service is free and impartial guidance to help you understand what you can do with your pension pot.

Go to Pension Wise



If you need to find a lost pension, you can search on the Government's website.

Find a pension