Check all your National Insurance contributions have been credited to your account.
Claim your state pension.
Trace any old pensions. Use the DWP’s Pension Tracing Service, if necessary.
Trace any forgotten bank accounts. Did you open any building society accounts in the late 1990s when demutualisations were happening?
Track down all your share holdings. Have you any forgotten shares from privatisations or workplace share-save schemes?
Work out how to draw your pension. You may need help from an Independent Financial Adviser or moneyhelper.org.uk.
Get a state benefits check.
Review any outstanding debts, including your mortgage and consider reducing or clearing where practical.
Keep an emergency cash fund in your bank or building society.
Cut your household bills. Look for cheaper energy providers. Review your TV/broadband package. Consider having a water meter fitted.
Consider running one car, instead of two.
Change your car. A good second-hand car should give cheap, trouble-free local motoring for a decade for most retired couples.
Downsize your house. Do you really still need a four-bedroom house?
Plan holiday times outside school holidays – the savings are massive.
Dine out earlier to take advantage of ‘Early Bird’ offers.
Get fit and stay fit.
Plan your week, fitting in some regular social activities, to give your life some structure.
Make a bucket list and tick off the items on it!
The information on this page is for general information purposes only and does not constitute advice. Individual circumstances should be considered and advice should be sought where necessary.
