One of the first considerations for most of us who
retire is our finances. There are different ways to
fund your retirement from government support to
private pension schemes and equity release. This
section covers these options in more detail.

State provision – Social Security benefits

The basic state pension provides a basic amount, which, at present is:

Your individual circumstances may affect the amount you get.

In addition to the basic amount, if you have contributed earnings related contributions, there is an additional (or second) state pension dependant on the amount you have contributed over your working life.

You can read more about pensions on The Pension Service website


Pensions can be from the government or you can organise a private scheme.

An annuity is a way of turning a lump sum investment into a guaranteed income for life. Most people with a pension fund will be forced to purchase an annuity.

This is a way of releasing capital locked up in a property. It is most suitable for people over fifty who own their home outright, or have nearly paid off their mortgage.