Nearing Retirement: Checklist of things to do

nearing retirement
Checklist of things to do when you near retirement


It’s a good idea to start planning when you’re nearing retirement age.  Here is a checklist of things to work on now before you retire:


  1. Find your paperwork. Old pensions from previous employers, life cover, current investments, pensions. Some people are very organised, they know exactly where everything is. But there are more of us who know these key documents are “somewhere in the house”. Make a start and gather them all together
  2. Work out what money you’ll have coming in and think about how your spending might change once you’re retired
  3. Look after your Health
  4. Check whether you’re entitled to any benefits for older people. You might be able to get benefits like carer’s allowance, housing benefit or fuel allowance
  5. Work out how much is left to pay on your mortgage (if you have one). Maybe you want to pay off what’s left with a lump sum, but you should get financial advice first
  6. Get an estimate of your state pension and find out when it’s due to be paid
  7. Track down any pension providers that you’ve lost contact with
  8. Get in touch with your pension providers and let them know you’re planning for retirement – they’ll usually send you important information about your pension
  9. Get financial advice so that you know what your options are for how to take your pension – you might have to pay for financial advice but it can save you money in the long term
  10. Consider leaving your pension pot to someone when you die – there’ll be tax implications for doing this, so you should talk to your pension provider or an independent financial adviser
  11. If you don’t have a financial plan, get one done. If you have a financial plan, update it.
  12. Start saving for an emergency fund
  13. Make a will
  14. Consider setting out an enduring power of attorney
  15. Review your financial plan for retirement


Finally, share your retirement plans with your family so that they know what to do and where to look should something happen to you. Need to chat to someone about your retirement plan well click here to schedule a chat with one of our financial planners.