Ages 60-70
Early retirement years
Spending can rise while you settle into a new routine. Build a budget that reflects leisure, travel and hobbies alongside ongoing commitments.
Retirement planning
Income strategy
Long-term security
Making Your Pension Income Last
You have earned your retirement. A clear plan can help your pension support the lifestyle you want across every stage of later life.
Breaking retirement into early, mid and later years can make it easier to adjust spending, risk and withdrawals as life changes.
Ages 70-80
Mid-retirement years
Lifestyle spending may stabilise, but healthcare and home-related costs can increase. This is often the stage to focus more on preserving capital.
Ages 80+
Later retirement years
Later life often brings new health and living considerations, making resilience, lower risk and regular reviews even more important.
How your strategy can evolve
In early retirement, keeping investments balanced between growth and stability can help support flexible drawdown. Regular reviews help make sure withdrawals still fit your goals.
As retirement progresses, moving part of your portfolio into more conservative options may make sense. For some retirees, annuities can provide dependable income and a clearer baseline.
In later years, monitoring withdrawals carefully, reducing unnecessary risk, and reviewing estate planning can help protect both income and peace of mind.
Next step
Review your pension plan regularly
Small changes made at the right time can help your pension income last longer and reduce financial stress across retirement.