Take me to the workshops

Have you thought about how your budget might change in the future once you stop working? The Pension and Lifetime Savings Association has created Retirement Living Standards that set out the average income an individual, or couples, might need as a minimum through to living comfortably. You can see the results here: www.retirementlivingstandards.org.uk

The start of a new year is a great opportunity to look at how much money you will need to live on and we have a budget planner tool to help you do just that: financialplanning.kraftheinzpension.co.uk

Our planner will provide an average amount that you will need to live on comfortably per year based on national statistics for over 65s in the UK. If you think the average amount to live on is too high or too low for your circumstances, you can change these numbers too! To make things easier we have created three categories of spending; essential spending, having fun and other spending.

Simply enter the amounts you think you're likely to spend in retirement each year in today’s terms, and our budget planner will automatically work out how much income you’re going to need to meet these costs.

You can find your expected Heinz pension income on the online portal at www.hartlinkonline.co.uk/heinzpensions. Add this to the planner tool and any other income you’ll expect to receive, or your partner expects to receive, and take control of your future saving and spending.

The workshops will provide education and guidance to help as you start to plan your retirement journey.

Each module is around an hour and is designed to help you consider when you wish to retire, the key financial and non-financial considerations, and how to achieve your goals.

The workshops are aimed at those individuals approximately 7 to 10 years from retirement, and who wish to start actively taking control of their retirement planning.

The content is as follows:

Module 1 Pension Basics
This provides an overview of pension schemes together with details of the state pension, contributions and investments.

Module 2 Accessing your funds
This provides information on the different ways you can access your fund after age 55, explaining tax implications, and considering the different lifestyles you may have as well as pension scams.

Module 3 Planning for your retirement (non-pension)
Covering other financial aspects you need to consider as you start to approach retirement, such as income and expenditure, other savings and inheritance and tax planning.

Module 4 Non-financial aspects of retirement
Health, lifestyle in retirement, relationships, growth and development.

You can access these workshops here Take me to the workshops

Don't forget you will need a password which you will find in your Spotlight email.