Make a change

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 benefit you, as it gives you more time to save and allows the potential for growth, which in turn could boost your income.

Read more about delaying your retirement

Review your pension investment

If you have a defined contribution pension, the money will be invested in fund(s). You may want to review the investment(s) you currently have and be comfortable that these are still aligned to your attitude to risk now you're approaching retirement.

Some pensions gradually change to lower-risk funds automatically as you approach your selected retirement date; this is often called ‘lifestyling'. 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.

Your provider should send you a statement every year, but if you've moved house and haven't told them, it's likely that you won't have received it. Finding a lost pension may be as easy as making sure your pension provider has your correct address.

If you still think you have other pensions you have lost track of, there are a few things you can do:

  • If you can remember the provider of your lost pension, call them and they'll help you directly.
  • If you don't remember the provider, but do know who you worked for when you paid into the pension, call the company.

If you don't know the details of either the provider or the company associated with your lost pension, contact the Government pension tracing service who may be able to help.


Further Help

Pension Wise from MoneyHelper

This free and impartial service helps you understand your pension pot options so you can choose the right one for you.

Provided by MoneyHelper, a government organisation, it offers clear and simple guidance online or over the phone.

Pension Wise from MoneyHelper

Financial advice

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

Financial advisers are trained to 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

Find a 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

Need more help?

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

Go to MoneyHelper

Pension tracing

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

Find a pension