Downsizing your home in retirement will give you an average of just £43.50 a week more income, while moving from a semi-detached to a flat would give you just £4 a week more*.

Mistrust and confusion over pensions has prompted more people to consider using their property as a pension fund, which is a dangerous move. Falling property prices and reduced annuity rates have reduced the amount you can get from your property, so take control of your pension and get more for your retirement with some Government help.

The earlier you start, the more money you will have in your pension, but you cannot leave it to chance. It is vital to revisit your pension regularly to be sure it is on track to give you what you need in retirement. So take control of your future by speaking to an adviser now.

Pros: Save money on your pension provider’s fee. Find out whether your pension savings are on track to meet your retirement needs. Get good advice about whether you are even saving for your retirement in the right way from an adviser who is searching through the whole of the pensions market to help you.

Cons: Dealing with some paperwork.

Alternatives: Living a retirement with less than you hoped for.

Further reference: Speak to a pensions adviser Related: Latest news

*Standard Life

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