Farley And Partners

Pension boosting strategies

Topping up your pension is not the only way to potentially boost your pension income when you retire.

While you can top up your basic state pension pot, there is also the option to start another pension pot and begin contributing to that. Your existing contributions to your workplace pension can also be voluntarily increased.

The second main option is to defer your pension. What this means in practice is that you agree to delay the date that you start taking your retirement income. This can have a number of advantages, chiefly that it allows you more time to contribute and that annuity rates may increase over time.

Contact us today if you would like to talk about retirement planning.

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