Welcome to the third week of our Pension Awareness Month event! We've been on a fast-paced journey through pensions over the last two weeks, so this week, we're taking our foot off the accelerator for you to slow down and reflect before you continue your retirement planning journey in week 4.
The focus for this entire week is live webinars, carefully designed to provide you with help and support, ensuring you avoid any potential obstacles on your retirement journey.
During these live sessions, our experts will recap key points from weeks 1 and 2, delve deeper into complex issues, introduce new topics like preparing for retirement, and offer practical guidance and demonstrations.
In this session, we're going back to basics. Many members understand they're contributing to a pension called alpha, but their understanding often stops there. We'll explain what your contribution buys you, why it's crucial to consider early retirement planning to do things gradually (rather than in a short amount of time close to retirement age) which has less of an impact on your monthly income now.
During this session, we'll guide you through the Pension Portal's registration and login process. We'll also show you how to use your ABS and the Civil Service Pensions retirement modeller to estimate your retirement income and compare it to the retirement living standards. If you find your income falls short, we'll explore options for boosting your pension, such as buying added pension or EPA.
Ever wondered how career changes, divorce, or altered work patterns could affect your pension? We'll break down the pension calculation process and discuss how personal circumstances impact your benefits. We'll also explain the 2015 Remedy (McCloud) judgment and its potential implications.
Understanding how the retirement process works is essential. We'll cover partial and full retirement, providing guidance on preparing for retirement and the application process. We'll also address retirement options for dual members and provide examples of retirement calculations and quotes.
Preparation is key - the more research and planning you can do beforehand the more prepared you’ll feel. Before you start the retirement process, consider your financial and legal positions, health and well-being, post-retirement plans, and the needs of your loved ones. We'll show you how you can create a retirement budget and introduce you to resources for maintaining an active lifestyle in retirement, both physically and mentally.
The Civil Service Pensions Podcast will help you get to grips with your pension and make more informed choices about your financial future, whatever stage of life you're at.
In this hour-long Pensions 101 session, our experts covered the following topics:
In the first of our 2 part Life Events sessions, our experts covered the following topics:
In the second of our 2 part Life Events sessions, our experts covered the following topics:
In the first of our 2 part Preparing for retirement sessions, our experts covered the following topics:
In the second of our 2 part Preparing for retirement sessions, our experts covered the following topics: