"People in the UK are on track to replace just 42% of their final earnings on retirement.”*
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If you invest in non-pension savings, you can use these to supplement your pensions savings – and still access your money if you need to.
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Ensure you have the right mix of investments, which could help your savings outpace inflation.
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You could combine your various savings ‘pots’ to make managing your money easier. It’s simple to consolidate what you have.
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If you are approaching retirement you will generally be able to take up to 25% of your pension fund as a tax-free lump sum. You could use it to supplement your retirement income by reinvesting in a flexible investment.
Planning for your retirement? See if your finances are on track with our myPlan planning ahead calculator
Approaching retirement? Find out more about your retirement income with our myPlan in retirement calculator
*Source: Fidelity Retirement Institute