Now is the moment you’ve been looking forward to for so long. But what do you do with your policies, investments and pension funds now that your retirement has arrived? Financial planning isn’t just about making preparations for this day – it’s also about making the most of your resources at retirement.

Life assurance
At this stage, life assurance isn’t so much to do with insuring against debt, but protecting against potential debt – specifically the inheritance tax payable on your estate. Making the necessary arrangements now will ensure that a hefty tax bill isn’t the last thing that you leave your loved ones.

Savings and investments
Depending on your overall financial situation at retirement, you may be able to put off drawing an income from your savings and investments. This will allow you to preserve your capital for longer, for your own future benefit or for the benefit of family or friends.

Retirement planning
The annuity you purchase using your pension fund needn’t be bought from the company with which you invested. Shopping around with the help of Cairn Independent can uncover the best rates – a gain of as little as one per cent could result in a significant increase to your retirement income.