Less than five to ten years to retirement
Even with just five to ten years to go before you're due to retire, it's not too late to make important changes which could help you enjoy a better retirement. This is a good time to start thinking seriously about how long your money may need to last you – many people underestimate how long they may be retired.
Transcript for video Late career
You’re getting closer to your selected retirement age which means more freedom to do the things you enjoy.
To make the most of this new stage in your life you need to give some thought to your options, needs and goals. So, where do you begin?
First, find out what you already have, and what you could have when you retire. There’s the state pension, of course.
This is the current weekly State Pension for a single person. You need to have 35 years National Insurance contributions to get this much - which is the full amount.
Want to live on that? Maybe not, so what other money could you have to live off.
Think about any money you’re saving in a bank or building society account, or an ISA. Factor that in.
Chances are, your workplace pension savings will also play a big part in planning the kind of future you’d want for yourself.
There are a number of ways to take your money, such as: taking all the money as cash; taking it as a guaranteed regular income, or perhaps taking it as a more flexible income as and when you need to.
Before you make a decision on how to take money from your pension savings, you need to get a clear idea of how much you have there, and how it’s invested.
If you want more help thinking about pensions and retirement, a good place to begin is MoneyHelper, the government-backed free guidance service.
If you are over 50 you can use the Pension Wise service, from MoneyHelper, online or by phone on 0800 138 3944. They offer a free face to face or telephone guidance session
They won’t tell you what you should do, but they’ll provide you with information to help you understand your options.
For more tailored advice, you should speak to a financial adviser. Bear in mind they may charge a fee for this advice. If you don’t have an adviser, you can find an up-to-date list of regulated advisers at MoneyHelper
https://www.moneyhelper.org.uk/en/pensions-and-retirement/takingyour-pension/find-a-retirement-adviser
You can access MoneyHelper online at http://www.moneyhelper.org.uk or by phone on 0800 011 3797.
Tax and state benefits shown are for the 2026/2027 tax year. They depend on your individual circumstances and may change. This presentation should not be regarded as giving any form of financial or investment advice. You should not make your decision on the basis of this recording alone. If you have any doubts whether the product is suitable for your needs, you should contact a financial adviser for advice.
Get online
Log into your online account
Manage your pension the easy way by logging into your online account through MyAviva. Giving you secure online access to your pension wherever and whenever you need it.
Register
Aviva Pension Seminars
Aviva will be running a series of pension seminars to help you understand your new pension scheme and what to expect. To find out more, and book your place, visit our registration page.
What can you do now?
Think about how much income you'll need in retirement
You might find you don't have as many regular expenses when you retire – but it's important you know how much you're likely to be spending, so you can work out how much income you'll need.
Review your plans and consider if you'll have enough income
- If you're not sure whether you'll have sufficient income, you could consider options such as delaying your retirement or if you could manage on less income.
- Find details of any pensions you may have lost as they could provide invaluable additional income.
- Make sure you know your options when it comes to taking the benefits from your pension, and how this will affect your tax position.
Your savings and investments are important
Making the most of your ISA allowance could help you to save and invest more tax-efficiently. Tax treatment depends on individual circumstances and may be subject to change in the future.
Find out what you'll be entitled to receive and when
Make sure you know how much you'll get from the State Pension and any other benefits you might be able to claim.
Think about how long your money may need to last
Consider how to provide for your loved ones
No-one likes to think about dying, but you can enjoy greater peace of mind if you know your loved ones will be provided for by making a will, and completing an expression of wish form to nominate a beneficiary.
Tools and calculators
Calculators
Pension calculator
Learn more about the future of your pension plans and how long your money might last in retirement.
Calculators
Shape my future
This useful tool is designed to help give you an idea of whether your potential retirement income will fund the lifestyle you want.
Calculators
Pension annuity calculator
See how much income you might receive from a pension annuity with our calculator.
Calculators
Pension withdrawal tax calculator
Our calculator will help you understand how much income tax you may have to pay if you take a lump sum.
Articles to read
Contact us
If you're struggling to get to grips with your pension, we are here to help.
Email us using the email address below or give us a call. Calls to and from Aviva may be monitored and/or recorded.
Phone: 0345 268 2287
Email us: mymoney@aviva.com
Accessing Guidance and Advice
This site does not provide financial advice.
MoneyHelper
If you want more help thinking about pensions and investments, a good place to start is MoneyHelper, the government-backed free guidance service. The MoneyHelper service won't tell you what you should do, but they'll provide you with information to help you understand your options.
Contact an adviser
For financial advice please contact your financial adviser. If you don't have an adviser, MoneyHelper can help you find one in your area. An adviser may charge for their services.
Aviva Financial Advice
If you'd like to get advice about your pension or investment needs, Aviva Financial Advice might be for you. Call 0800 092 2585 or if you're short on time you can book a call back with one of the team.